I don't like the new name, is too generic. I think an original alternative would have been better, like Trello, Slack, ...
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It means that a unique, made-up word is fine because it will gain meaning. It may sound strange now because it is new and unknown but that does not matter because that will change. 'Google' went to a strange, made-up word, to being an everyday noun and verb.
In that respect a made-up word is the best option because you start with a blank slate and you can create its meaning.
Whereas a generic word already has meaning, several competing ones, even, and you have to struggle against that to build your brand, so it's an inferior choice.
Though as Apple, Nike, Windows, Slack, Segment have shown, the generic approach can work.