It's better than Gamecube 2 or Super Gameube. Like all the other console developers seem to be going. That's why I like Nintendo. All of their consoles are completley different from each other. Compare the controllers from each system. They're all completley different. Now look at 360 and PS3. 360's is the exact same thing (Except now it looks more like a Dreamcast controller rip-off than it did before), and the PS3's is the same, just the way it's presented is different.
Almost everything we take for granted from gaming has been taken from Nintendo. Controllers, analog, rumble, a good wireless controller, and now this. It's perfect in every way. This is why they're calling it the Revolution. Although the PS3 and 360 fanboys may be bashing it now, we'll have the last laugh because we have something completley different and fresh, while they have the same old system with updated graphics.
In short, Revolution is a completley appropriate name. If you watched the videos or gave some time to think about it, you'd realize why they choose to keep it.
We've been getting too comfy with gaming for the past few years, it's time for Nintendo to bring something new to the world. Something that will revolutionize the way we play video games.
(Besides, Nintendo's had worse code names. How about playing some SSBM on the Nintendo Dolphin? Heh. Fun fact. Look at the back of any first party Nintendo Gamecube product, like your controller. The model number will always have DOL as the first 3 letters.)