I think they actually renamed to avoid anti-trust by attempting to shift the company's identity away from social media monopoly. If you're perceived as pointless and weird (and actually are), it's much better than being perceived as a monopoly which is the target of bipartisan effort to be dismantled.

I think they took a boutique idea that had no legs and leaned into it because it also happened to be complementary to a strategy to escape the anti-trust heat.

They won't rename themselves again. They're um, "beyond" that.

On to the next hype ...