You are right. As the semen discharges with lust in the same way madhi also does. But the difference between them is that the madhi is thin and discharges with lust without jerk, sexual arousal remains intact and excitement does not lessen rather it increases. In contrary to it, semen discharges with lust and orgasm and jerk and the penis gets loose i.e. the lust and excitement vanishes.
The meaning of discharging with lust from its place is that there is a particular place of semen. The semen of male comes out from the boons of rib while the semen of female comes out from her chest. In short, if the semen discharges from its place with lust and reaches up to the penis or to the external part of vagina then ghusl shall be wajib though there is no lust at the time of coming out. Hence if the semen of any man reaches to his penis and he withholds it and then it came out without lust then too ghusl shall be wajib. (Dur Muhtar with Shami: Vol. 1, p. 295-296)
Allah (Subhana Wa Ta’ala) knows Best
Darul Uloom Deoband