Yeah, I believe this is what monogamous people call 'dating'. Another term is 'playing the field'.
Also, while you state that you both consider your relationship with her to be dating, it seems to me that you are her best friend, not a lover. She loves you, but as a dear friend. She's not ready for a serious commitment and wants to figure out who she is and what she wants which is wise.
But this course of action may be her too gentle way of telling you that she is not into you romantically. I believe this is her way of letting you down gently without being too direct and without risking your friendship, which she clearly values.
She is seeing other people, and likely having sex with them. If she was interested in you sexually and romantically, then, well, you two would be having sex, not just doing the emotionally intimate thing. I'm sorry, you are her bff, not a boyfriend.
If you can remain friends with her without too much pain, go for it. But otherwise, it's time to cut ties and move on, as painful as that is initially. I've been in your shoes and it sucks. Best of luck.