Aarran
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The component section of the magic chapter on page 212 of the CRB distinctly separates the two as being different categories of components. Much like vocal and somatic are two distinct types of spell components, and feats that affect one usually don't affect the other. The description of the spell component pouch also mentions it carries both material components and focuses required for spell casting that do not have a gp value listed.
The eschew material feat on the other hand only says that it removes the need for material components, with no errata expanding it to include focuses.
That doesn't make having the feat any less nonsensical. I believe it to be an inherent flaw in how the feat was written that was simply copy/pasted from 3.5 like they did with some other things. The lack of a costly component for Spell Turning being a good example. I think it's something that needs fixed and wasn't fixed and if not then it is a complete waste of a feat.
By the way, I'm not in disagreement with you in the way the rules are written. I just think the rules are flawed.
