I have never thought of its origins before, but I'd assume it's a short hand for "live-action anime adaptation". Maybe this makes it more palatable for you?
As for Animatrix, yes -- it really went full circle, considering how they pitched the original feature:
> When Larry and Andy Wachowski were pitching The Matrix to their producers, they played them a DVD of an 82-minute Japanese cartoon and said: "We wanna do that for real."
https://www.theguardian.com/film/2009/oct/19/hollywood-ghost...