Others want to say "My child is reading" if he can tell Burger King's logo from McDonald's. I consider that more along the lines of distinguishing horses from cows. Yes, it's important, and yes, it can be applied to reading, but it is not, itself, reading.
I've just spent a month where there are many signs and directions I can't read, where there are conversations I can't begin to comprehend. I've also been hanging out where even young children know two or three languages. All my kids are grown, and it's been a long time since I couldn't read English. Being in India reminded me daily that hearing isn't always understanding, and seeing words isn't necessarily reading words.