That is very very explicitly just the name of technical the specification. Its a documents for people who design usb devices. The tech media failed us by reporting on it like they did.
The spec also explicitly tells us that we should refer to the usb cables/ports/devices as e.g. "USB4 40Gib" or "USB 3 20GiB". So in fact we have easy to understand names but only a few manufacturers actually print that on the boxes or cables.
That's a really good idea! So good in fact that that is actually what they did call it! https://www.usb.org/document-library/usb4r-specification-v20