Weren't they trying to divide YouTube from "Google" as well, this kind of doesn't help, but I would either have gone with YouTube Plus or Play Plus, seeing as others pointed out "Red" and "Tube" sounding awful together.
> Weren't they trying to divide YouTube from "Google" as well, this kind of doesn't help
It might, in the long term. The next step after expanding the services offered under Google Play Music subscription and adding a new name for it (without immediately disrupting anything) might well be retiring the old name, moving the whole audio/video streaming product area under the YouTube brand.