an asic is fixed function, so it'll never be able to boot my pc and then be the CPU, even though an asic beats the pants off anything else computing Sha hashes for Bitcoin mining.
ASIC just means it's an application specific IC (= chip), meaning it's fabbed for that specific product (like in this case the Raspberry Pi). A functional block like a JPEG codec contained therein is not an ASIC. Quoth wikipedia:
"Modern ASICs often include entire microprocessors, memory blocks including ROM, RAM, EEPROM, flash memory and other large building blocks. Such an ASIC is often termed a SoC (system-on-chip)."
What you're describing in the JPEG codec might be termed a fixed function IP block in semiconductor design terminology.
An application-specific integrated circuit (ASIC /ˈeɪsɪk/) is an integrated circuit (IC) chip customized for a particular use, rather than intended for general-purpose use, such as a chip designed to run in a digital voice recorder or a high-efficiency video codec.