It's lossy.
Think of it this way, any lossless recording method in .wav format is gonna record at 44.1k or 48k samples per second. That much data requires corresponding storage space. A hi-md disc can hold about 1 gig of data, which is only an hour or two of recording. Hi-MD recorders have a one-off mode that gets something like 7 hours on a single Hi-MD disc and the sound is still high quality sound, at least to the ears although maybe not when you look at it analyzed on a computer. EDIT BASED ON LATER POSTS I'm pretty sure that's one of the LP4 modes that is being spoken of.
I didn't look or listen to the links you posted, but does the source sound good? Do you have reason to believe that he's telling you the truth about the source info being direct from the master?
If the answer to both of these is 'yes', then it doesn't seem to me that there's any problem, even though TLH may have said so. Just because it's missing some expected bits on the analysis data side doesn't make it a bad recording. I've always subscribed to the concept that, if it's the best available original and if it sounds good...then it is good, but I think I may be in the minority on that point here in TS.com because lots of people will diss a lossy recording on that point alone...even if it sounds great.