If my data is wiped and Iphone 14 still shows up in my devices list, how was my friend able to sign in with his icloud account?

Executive Summary

I remembered to have clicked on Sign Out of my icloud account and then did an erase. I saw Hello World Screen. Yet few months later, the phone still showed on my icloud devices. If the phone is still showing in my devices, does it not mean it is under activation lock? If yes, how did my friend logi...