Wankel intended his unit to be a true rotary [ engine revolves around grounded crankshaft] to utilize air-cooling, but referred to his production units as being a rotating piston design…
If there is any merit in the ‘Liquid Piston’ set-up, I `d wonder if Toyo Kogyo hasn’t checked it out…
Incidentally, Mazda pushed the technically improper ‘rotary’ nomenclature - as a way of avoiding paying royalties on the Wankel name…