I mean, yeah if it's a personal thing about your life, the word journal might work. But blog means a lot more than that. Businesses use blogs to highlight products and upcoming events. Journalists use blogs to publish their stories. Bruce Schneier and Brian Krebs use a blog to publish research and articles they've written. 37Signals uses a blog to advertise their particular way of doing business.

"Blog" is not short for "journal on the Internet", it's short for "web log" and means something far broader than "diary" that you seem to associate it with. It's not just a log/journal on the web, it's a newsletter, a flier, a classified ad, a newspaper, a document repository, a knowledge base, an event calendar, and a ton more use cases. It's all of those rolled into one. And since "journal/newsletter/advertisement/diary/repository online" is too long, we just shorten it to one four letter word: blog.

The weirdest thing to me is when people say they hate specific words when no other commonly-used word exists to describe the same thing. You can't hate a word. It's the most fundamental concept of communication, that we all agree what various scribbles and noises actually mean. "Journal" has a meaning. So does "blog". They don't always overlap.