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IMO there's no one "right" way. Either way is correct.
I own several older rigs and they use different methods.
For example Yaesu FT-901 has RX offset, Kenwood TS-830 has TX offset.
But in all cases the frequency as shown on the display during TX is the
true carrier frequency being transmitted.

The reason why the sketch currently uses TX offset rather than RX offset
is just for simplicity reasons.
During RX the raduino doesn't "know" whether we are listening to a SSB or
a CW signal. Only during TX the raduino can differentiate between SSB and
CW.
Because when the mike's ptt switch is pressed, it knows it's SSB and no
offset is needed. When the morse key is down it knows it's CW so it knows
it has to add the extra offset.

In the current setup the user can only toggle between LSB/USB. When the
key is down this automatically becomes CWL/CWU.
For RX offset we would need an extra mode switch so that the operator can
select LSB, USB, CWL, CWU, which would tell the raduino whether or not to
apply the RX offset.

Perhaps we can find a different clever way for mode selection that doesn't
involve extra switches. If we have some bytes left we may be able to do it
from the software. But that may become a challenge.

73 Allard PE1NWL