Let's face it, idea for using word "gimp" probably came before they figured out what it stands for. Even now when everyone understands what that means and what consequences are behind using that word, there is still a lot of debate around that name and instead of changing it to something more marketable they are stubborn and are sticking to it. They even allow for bigger market fragmentation (Glimpse fork of GIMP) just to not change that name, that's childish.