When is a Modified Porsche an Outlaw or Hot Rod?

The recent purchase of a modified 1968 Porsche 911 raised the question of when is a Porsche 911 an Outlaw versus a Hot Rod? The car was advertised as a Hot Rod. I preferred the term Outlaw because it implies more refinement and historically is tied to modified Porsches.

Porsche Outlaw or Porsche Hot Rod - Which is Which?

But, which one term is really correct for this modified 1968 Porsche 911; an Outlaw or a Hot Rod?