There are two (or more) concepts named after the same person:

- Pareto efficiency/Pareto curves: Basically the convex hull of points along the edge of a graph, indicating the best tradeoff between the axes. This is what the post is talking about.

- Pareto principle: this is the 80/20 rule you're talking about

This is the Pareto Front [1], rather than the Pareto principle. It's the idea that anything that's more intelligent is more expensive and anything that's less expensive is less intelligent.

[1]: https://en.wikipedia.org/wiki/Pareto_front

"Pareto" is many things, but here it does indeed refer to the frontier: https://en.wikipedia.org/wiki/Pareto_front