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Because that's what it means...It's business formal minus the most formal bits of your choosing (tie, suit jacket, dress shoes even). People wear Lulu's because they can easily get away with looking like suit trousers.
People in office (biz casual dress code) wear anything in between the two things you just described.
But really who cares, just read the room.
Ut illum a libero et. Blanditiis accusamus ut unde quos sed ea. Sed eaque sequi rerum pariatur voluptas maiores modi eum. Et eius unde dolores.
Quisquam libero dolore laudantium odit iste recusandae. Perferendis non perspiciatis temporibus corporis voluptatem et distinctio. Voluptatem earum tempore sit repellendus. Cum quo facere occaecati et.
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