You obviously mean well, but I think you underestimate the extent that many people in the 'Islamic World' hold views that you would find indefensible in any other group of people. There is no point in sugar coating it and it is not an insignificant percentage
Of course, this does not apply to all Muslims, or even most, and I will never criticise people for views they do not themselves hold, but just don't think it is only a fringe minority. Put it this way, under your definition, I don't think that a homosexual could ever be considered 'Islamophobic'. And you as a Christian, would not be 'equal' under the law in most Muslim majority countries (de facto at least, if not also de jure)
If we were to use your terminology, 'Christianophobia' is cetainly rampant in many parts of the Muslim world, never mind 'atheistophobia' or 'Jewophobia'. You must know that for a sizeable number of people everything bad that happens is a combination of America and the Jews.
It's not a one sided 'phobia'