Yes, naming of projects was one of the most fun aspects in projects. Seen that play out in many ways, often case of thinking of what you wanted and working out some acronym or reason to go with that. One team the project manger was a fan of the TV show BILKO, so the new invoiceing system became called that once a passable acronym was worked out. Was something like Billing and Invoicing ...was so long ago but was clever and worked. Then their was the buzzword period and marketing departments, so would get whole rafts of things with Rapid as a prefix and the irony played out.

Still, maintenance is the biggest cost of any code that has lived so long, so with that such systems overall may well be agile, you just smooth out the pain over time in a more manageable way.