Well, to me concurrent means "placing load on the server at any given moment". When you request a page the server is made to work hard for a short while (exact length depends on complexity of the page, usually it's under a second - my 10 seconds was an estimate that covered more complex pages).
While you are reading that page in your browser, though, the load you are placing on that server is
zero (even if you are logged in).
So yes, counting hits from different user accounts in a given x-second window (let's say 10) could be one way to work out a number for concurrency. You might want to average these counts for many sequential windows, over a longer period etc.
As you can see it's all very inexact - there are too many variables. Personally I treat server health more like biology than mathematics. I watch symptoms like my weight or body temperature (server load) rather than counting calories.
Also, it's best to have heaps of extra headroom to cope with the spikes. I try and keep my average Unix load under 0.1 ... when it starts running hotter than 0.3 or so all the time then it's time to double the server size or reduce the number of users.

Hardware is cheap!