I prefer to refer to coilovers to the ones you can adjust, for reference to what i have in my 14 RAM 1500 crew cab truckJust a technicality, but to be accurate the Bronco has coilovers which are the coil and shock in a single unit, and can or not include the bump stop. Technically, a strut is an integral part of the suspension links, where the shock is combined with a link/links to locate the axle.
And yes, coilovers are going to be more expensive than a separate coil and shock. A benefit though is better packaging. Also, with a coilover there is always a bit of preload on the spring so the spring doesn't unseat, where with long shocks and a separate spring the spring can unseat when the axle droops out all the way. Really, while a bit more expensive, the coilover is a better way to do it.
Every vehicle with IFS has the coilovers attached to the LCA. Like side by sides and Trophy Trucks and Class One buggies and Ultra4 cars and....and...and...I prefer to refer to coilovers to the ones you can adjust, for reference to what i have in my 14 RAM 1500 crew cab truck
2021-01-17_06-17-50 by RAM RSM, on Flickr
But yes you're right i guess technically i need to refer to the Bronco suspension setup as factory coilovers though secretly i'll call them quick struts , at least in the front as the strut is connected to the LCA
Aftermarket adjustable coilvers have more benefits as you have indicated no doubt, way more expensive than conventional shocks with separate springs, little more expensive than race shocks + separate springs, but if you're looking for performance the race coilovers is where is at.