Canon has defined "L series" lenses pretty much the same since they were first were introduced in the FD line in the 1980s or late 1970s...
"L" stands for "Luxury". But, hey, the marketing people are Japanese and it might lose something in translation.
For EOS/EF Canon has defined L-series as...
1. The name reserved for lenses possessing a level of quality sufficienly high to be called professional and stringent standards of performance (this is pretty wide open to interpretation, depending upon how one defines "top quality" and "standard of performance").
2. Lens must use optical elements of exotic glass (UD, Super UD, Fluorite, aspherical or other special optical materials, etc.), optical design without compromise, cutting edge optical theory and engineering.
3. Lens must fit and be compatible with all EOS cameras past, present and future.
The last item is the reason that no EF-S lens has been labelled an "L" or gotten a red stripe painted on it. It doesn't mean that EF-S lenses aren't equally capable as L-series lenses in many respects. They might have great build quality, exotic glass. Might even have sealing... Though none do that I'm aware of... But not all L-series are fully sealed, either. Also note that sealing is not one of the features that Canon cites as a mandatory feature for L-series.
There are EF lenses that equal L-series in all respects, but just don't need exotic glass to get the job done so don't get a red stripe. The EF 100mm f2.8 USM macro is an example (recently discontinued and replaced with the 100L macro)... It's build is identical to the 180/3.5L macro. Among the TS-E lenses there have been identical build lenses some of which were L and others not, purely because of the glass used in them. In this case, the prices were even the same!
But no EF-S lens can be fitted to film, full frame or APS-H DSLRs.... So Item 3 above has prevented any of these lenses from being labelled an "L", no matter how good they are.
However, maybe this will change.... I notice in the latest edition of Lens Work III that item #3 above is no longer part of the description of L-series!
OTOH, by not labelling a lens an L, Canon gets to withhold the lens hood and sell it to us separately!