The engine block casting process is pretty standardised, and would need to have some sort of piece to attach the coolant hose. So they used a typical thermostat housing. That way they don't have to engineer a hose nipple. Then pay to have it manufactured, which would only increase costs. The thermostat housing can be easily sourced. And it's common in any manufacturing industry to source common, non- propietary parts from elsewhere, and not manufacturing in- house. So it's natural to call it what it is, even though it doesn't actually contain a thermostat. That would be my guess.
I'm sure that you could put one in there if it has the relief cut around the rim. So that the thermostat would properly seat, & seal. Although that wouldn't help your overheating problem. My guess would still be a water pump problem, or air in the system. Of course, not examining it personally, I can't totally rule out a blockage in the system, a clogged radiator or internally collapsed hose or something. But that seems extremely unlikely, and I trust that you've eliminated those possibilities.