I think I read somehwere that they chose this name as their "beta" version since it's not easily googleable. As soon as they gain more traction, they will rebrand.
> Eelo was subsequently renamed to /e/ in July 2018 due to a conflict with the "eelloo" trademark, which was owned by human resources company Meurs HRM B.V.
> Eelo was subsequently renamed to /e/ in July 2018 due to a conflict with the "eelloo" trademark, which was owned by human resources company Meurs HRM B.V.
https://en.wikipedia.org/wiki//e/_(operating_system)
PS. I agree on it being the worst name possible.