VST does stand for virtual studio technology. Just as the iphone has altered the definition of what is a phone/watch/computer/camera/dvd player/walkie-talkie is, I think VST has completely shifted what a studio now is -- as well as the fact that not a lot productions from the brutal honesty of a balance sheet perspective can remotely justify renting a traditional studio. Also, it seems that "knowing" your room is now a key factor versus having an optimized room that one rents. So in my mind there are traditional studios, virtual studios and hybrid studios.
A pure laptop or ipad setup is a virtual studio, a semi-treated bedroom or house with monitors and at least one synth other than a controller is a hybrid. Anyplace that feels like you are splurging is a traditional studio. Like this jealousy-inducing thread (seriously -- you've been warned ): Had to be done - been in Real World studios for a couple of days.....
I would call my music room a home studio but instead of using a porta-studio as many people used in the 80s I use a DAW. I have a decent pair of monitors (Yamaha HS-80m) but my room isn’t acoustically compensated.
I did however use white noise and a graphic spectrum analyzer to find some bass hot spots which I have compensated for using 31-band equalizer. It really made a different.
Hey my people remember a few years ago when the all in one studio or
portastudios were popular hey what about that carry around a studio
Hey man I'm gonna take my recorder home studio over mikes crib
and we gone jam I recall 25 years ago I bought my first 4 track
Fostex X15 that little sucker sound like a million bucks to me
It had a power pack held 9C battery's take it to the park
Anyway there are many definitions maybe the studio is inside