I know that the bourgeoisie existed before the industrial revolution and had their own organizations. I would certainly call these proto-capitalistic. But I would not call the prevailing social order itself capitalism, much in the same way I wouldn't call the current social order socialism, even though proto-socialist elements exist today. Since the elements themselves also only exist as parts of a whole, I wouldn't call proto-capitalist elements as capitalistic, because the elements of a fully capitalist society are different from the elements that will later evolve into capitalism. For example, in regards to guilds, most guilds before capitalism proper did not rely on wage labor (as wage labor was heavily looked down upon before capitalism as being unfit for men). Wage labor could only explode with primitive accumulation, and only with the formation of reserve armies of labor does it take on the monstrous form that it has under capitalism.

If I come across as arguing over semantics, it's just that I find the way that the book uses the word "capitalism" confusing. I have pre-concieved notions of what the word means, and am not sure which ones I should drop or keep when reading a passage from the book.

a capitalist logic certainly dominated those select cities which allowed them to accumulate so much wealth

Yes, I do think this is a relevant dynamic.