You are correct. Pergo is simply a well known brand of laminate flooring. Just like kleenex is to tissue. Laminate flooring is much better than natural wood for many applications. First it will wear much better. the surface is considerably harder than any natural wood, so if you have dogs they will not scratch or dent the surface. If you have a high traffic area you will never see wear in the surface. You will probably never wear though the surface coating in a residential setting. Also although hardwood may do marginally better with some water, in a pipe rupture situation they will both be destroyed, and the wood is much more work to remove and replace as well as more expense.
A sad excuse for wood flooring. Yes, they are an inexpensive means of achieving the hardwood look but, they will not wear the same way. You especially DO NOT want them in any area with the possibility of water exposure.