It may have been misused at some point, but "baud" was a word long before the internet, and I distinctly remember my modem at the time using the word baud on the box. I was just a teenager, so I'm sure I was missing key information. It was used, tho.

Here, this is proving us both right:

If your modem-to-modem connection is at 14400 bps, it's going to be sending 6 bits per signal transition (or symbol) at 2400 baud. A speed of 28800 bps is obtained by 3200 baud at 9 bits/baud. When people misuse the word baud, they may mean the modem speed (such as 33.6k).

Kilobaud is definitely a word that means a thing. Baud is a literal unit of measure that uses the metric prefixes.

¯\_(ツ)_/¯