I’ve always understood a stringout to be a selection of shots/segments that are meant as the base for a scene. Something that a content editor for reality TV might create, and then send it off to an editor that will actually create a proper scene, trimming cuts, adding sound/music, filling in blanks, covering visible cuts in interviews, that kind of stugg.
I also use the term for sequences with rough selects that I may gather when browsing through documentary-style footage, which I intend to later use as a source sequence.
But that may just be me.