pg_stat_statements max size clarification

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Page: https://www.postgresql.org/docs/9.6/static/pgstatstatements.html
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From https://www.postgresql.org/docs/current/static/pgstatstatements.html

pg_stat_statements.max (integer)
pg_stat_statements.max is the maximum number of statements tracked by the
module (i.e., the maximum number of rows in the pg_stat_statements view). If
more distinct statements than that are observed, information about the
least-executed statements is discarded. The default value is 5000. This
parameter can only be set at server start.

I wonder if "least-executed" is correct. I'm not an expert and haven't
convinced myself of this by examining the code, but I think after N distinct
queryid's have been seen, then any additional ones are ignored. But that may
not be "least-executed" at all. It's "most-recent" instead. I think we need
a new phrase here.