It's a distinction without a difference. EVOO smokes at 375 degrees, light olive oil smokes at better than 450. By comparison, when cast iron skillets were the next new thing, they were seasoned (and cooked with) lard, which smokes at 360.
There are two things to remember. First, it's a seasoning. Anything you put in there is going to smoke at a 500 degree seasoning temp. Second, when you cook in a cast iron skillet you're either sauteing / frying, which happens below 375, or you're pan searing a steak, at which point see above re: temps above 500 degrees.
Corn oil, peanut oil and soybean oil (refined) as well as coconut oil (refined) all smoke at 450+. They make perfectly fine seasoning oils, but, like I said, it's mostly academic because they'll smoke at seasoning temps as well. If you want to season your cast iron with olive oil, nothing bad is going to happen.