While many feel the need to belabor the point, the rule book remains silent on "inbounds" and as such, their is no definition of an inbounds player. However, there is a clear definition of when a player is out of bounds, and this definition is only applicable when such player
...IS TOUCHING ANYTHING.... (As per 2-28-1)
Some have formed a conclusion that a player must be inbounds if he is not out of bounds. This conclusion is incorrect. The player in the OP did not meet the definition of out of bounds as per 2-29-1. Therefore he is simply
NOT out of bounds and nothing else.