does not have a model of the objects to which the words refer
I'm not even sure what this is supposed to be saying. Sounds kind of like a bullshit generator.
Words are encodings of knowledge and their expression and use represent that knowledge, and these machines ingest a repository containing a significant percent of written human communication. It encodes that the words "dog" and "bark" are often used together, but it also encodes that "dog" and "cat" are things that are both "mammals" and "mammals" are "animals", and that the pair of them are much more likely to appear in a human household than a "porpoise". What is this other kind of model of objects that hasn't been in some way represented in all of the internet?