Doc should say "Object that should not be instantiated by object manager".
Injectables are usually stateless services without identity (EventManager, CustomerAccountManagementService). They can be asked for in constructor.
Non-injectables are usually entities (e.g. product, category) having identities and state. Because they have identities, so it is important with which exactly instance of that entity you want to load. When you ask for such entity in constructor OM will not be able to figure out which exactly instance of entity to provide you (Product 1 or Product2 or ProductX), so it will just provide empty product.
That is why entities are non-injectables and should not be asked for in constructor.