In Thompson's QED, much as with ed, the 'g' (aka "global") command's syntax is `g/regular expression/command`. It means "for every line (i.e., globally) matching regular expression, perform command". A common use was `g/re/p` to print matches, thus the now-familiar `grep` binary.
The /etc/glob binary is very similar in feel: `/etc/glob expression command`, which means "for every file matching expression, run command". (Note that the /etc/glob binary didn't return a list of files for the shell to deal with; it did all the command execution on its own.)
I can't pin down exactly when 'g' was added to QED. If we assume Thompson's first rewrite of QED had it, then 1967 might be a good guess. 1970 is the latest possibility, because that's when the only manual I can find[0] is dated. Note that it is for Ritchie's rewrite and mentions an "improved Global command", so it's definitely not the first appearance. There is some more history of QED and ed at [1].
As for the terse abbreviations common Unix commands, recall that much of the early work on Unix was done on very slow teletype devices such as the ASR 33. At 110 baud, brevity is a virtue.