Unlimited and unmetered are two different terms.
1. Unlimited would mean resources in terms of disk-space / webspace, bandwidth, mysql, emails etc are unlimited i.e. you can have as much as you want.
2. Unmetered would mean network speeds or network feeds, any which way you like to mention it. This is normally used in bandwidth parlance for dedicated servers.
Whilst buying dedicated servers you have the options of going in for different network speeds like for instance you may be offered something of a 1mbps minimum guarantee speed which means your server will always have a 1mbps network connection, there is no limit on the amount of data you can transfer at this speed
The higher your connection speeds, the lesser are chances of it being unmetered. You have to pay pretty hefty charges to get a 10mbps or a 100mbps unmetered network speed for your server. Generally, hosting providers who give high speed dedicated servers limit the data transfer to a certain GB or TB quota and charge you for overages.
Coming to the unlimited resources on shared hosting, yes its true that there are unseen "limits" on such accounts. Fact of the matter though is how many accounts are going to use heavy chunks of resources? Not many is the answer.
So one can still have unlimited accounts as such. But as a respected member in one of the above posts said, it is upto the hosting company to ensure that servers dont start getting slower due to resource load. It needs constant and intensive monitoring to ensure this 
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