Element is a new chat app that people won't have heard of and thus does need to be explained, and the "Element" name isn't helping in that regard because it's extremely generic and has nothing to do with messaging. Even worse, it has bad name collision problems; I just Googled "element app" and all the results are other apps named Element, including one hosted at elementapp.com (which will seem like a more legitimate domain name to many casual users than element.io).
And anyway, they were known as "Apple Computer" back then. See e.g. this ad: https://i.redd.it/f1o3uol6q2dx.jpg The name is not at all ambiguous. It was good branding relative to its competitors.
From a SEO point of view, The transition of 'New Vector' -> 'Element' is just as bad since the continuity of the name is completely lost and has to compete again in the SEO rankings.
The thing is with very generic names in search engines and word of mouth, continuity is essential and the creators of Riot have to rebuild it again with a generic name.
Nope. 'Apple Computer Inc.' already marketed themselves specifically first in 'computers' and that association was built over the years.
After they had success in products that weren't attached to only 'desktop/laptop computers' it made sense to remove 'Computer' from the name. The same was done for Tesla Motors Inc. to Tesla Inc.
This is more like a full blown renaming of Riot, New Vector, Modular -> Element. You need to rebuild that SEO and previous associations from scratch again.