So it's karaoke with instruments?

Suppose you wanted to cover this song (listen to it carefully if you don't already know it):
...and you have a band with bass, drums, and two guitars, but no keys or horns or strings.
You have three options:
1) don't play the song - but let's assume you don't want to limit yourself and cop out on a challenge.
2) do an arrangement with the instruments you have. Fine, but maybe it's too empty or missing too much of the texture of the original to really go over that way.
3) record the keys/horn/string parts to a click track, and roll it while performing.
Your drummer is drumming, bass is grooving, guitarists are doing their guitar thing, singer is singing, and some of the background tones of keys and horns are in the PA to flesh out the song's texture at points where it's needed. In what sense is this "karaoke with instruments?" You MIGHT call it that if you had a whole band prerecorded and the ONLY live performance was the singer or one instrument. But if you've paid any attention to this thread and the people who talk about how their bands have done it, that's not what anyone is talking about.