The inflammatory effect of seed oils (very high concentrations of linoleic acid) comes from the industrial processes, as you described, and of the concentration. Yes, it can also apply to olive oil. So if you want to consume olive oil, I'd recommend it be extra virgen cold pressed organic olive oil. It will have much smaller amounts of linoleic acid.

Nonetheless, it can be hard to find a decent brand since it's very easy to mix olive oil and other seed oils without you being able to notice the difference, even with laboratory equipment.

Peanuts aren't necessarily bad for you and you'll get mixed responses amongst the low carb community. One thing is for sure, they're a lot healthier than seed oils.