Just to clear all this up, here's what the Apple Support guide for iOS 14 says about Recents:
"The Recents album shows your entire collection in the order you added them to your library. When you use iCloud Photos, the changes you make to your albums on one device appear on your other devices too."
The Photos app makes it easy to keep your photos and videos organized and accessible. It can even give you a curated view of your photos, and intelligent Search features can help you quickly find exactly what you're looking for.
support.apple.com
So Apple calls it an album too. Sorry to have created any confusion about it. It's a visual difference between the two devices.