The rogue blimpy optimizing AI will one day enslave us all into typing blimpy. If you know how to do it the Correct Way in Emacs, you'll get to live a little longer before your matter is harvested for the blimpy typing nanobots.
No, I think the word was just chosen because it sounds kind of funny. The crux of the video is making fun of how simultaneously annoyingly fidgety and powerful emacs packages can be.