No it doesn't bother me but I understand how it would bother some to have their beautiful artful quilt referred to as a blanket.
A blanket is a big fluffy sheet with a simple binding sewn onto each end - or even just one end. So much more work goes into designing, planning, piecing and quilting a "quilt".
I suppose if I gifted one to a friend and they said "I'm gonna cuddle under my blankie and watch a movie next time it rains" I would smile and be happy. If they said "oh look honey another blanket" - I would be extremely disappointed and would not make them another one.
There is a difference depending on who is saying it and in what context.