This was my understanding of how Atmos worked as well (basically objects distributed dynamically in the home AVR rather than as fixed channels). However, the UHD BluRay of Guardians of The Galaxy 2 says that the audio is "English 7.1.4 Atmos". And in case your copy doesn't say that, mine is from an Australian store. I can send a photo of the cover if you want to see it.
I'm not sure if this is a mistake/marketing on the studio side or if there is actually a new way to categorise different mixes?