Well, it depends on what you understand by the word. It is obvious that in most cases, when one says "I feel depressed", he is just saying "I feel low", like "I'd like the Earth to swallow me", nobody means "I'd like to die" literally.
However, I just wanted to point out that there are REAL depressions, as you acknowledge (my fear was that you were not acknowledging even this).
So I see we agree but I had my fears.