If a fully grown adult wants to be named "Dickhat" I don't see anything wrong with letting them have that choice, with a full understanding of its implications. Same if they want to name their sculpture, invention, magazine, or club something patently offensive.

This isn't really equivalent to the name of an infant who has no choice in the matter.

This is, however, the single most trivial discussion people can have about a project and it's quite a common thread here on HN.