And second, this change reinforces the notion that Office is a cloud-connected productivity solution that is accessible from a variety of platforms and endpoints.
A notion rarely held or voiced by anyone outside of Microsoft, and not even the whole of Microsoft. I regularly ask PMs, group leaders, and other representatives to define what their terms include/entail, and they regularly fail. I give you the era of appending 365 to everything, wherein it meant absolutely nothing. I still don't know how to succinctly refer to my paid subscription that I address through an "onmicrosoft.com" account. It has morphed much and has shared names with other products and initiatives.
Names have never been Microsoft's strength, I worked on an Office team for 17 years and was regularly abused by marketing with insane name changes that rarely lasted a season, even though they were introduced as "essential" and "clarifying." As then, this name change will provide no clarity when talking to customers, or likely even Microsoft representatives themselves.