Not only is it comically villainous, it's the technical term for waste water from toilets. That is, sewage. Whoever is picking their names needs to be, uhm, shot.
Blackwater got it names from the swamps surrounding the area: "the Great Dismal Swamp, a vast swamp on the North Carolina/Virginia border, now mostly a National Wildlife Refuge...There, he created his state-of-the-art private training facility and his contracting company, Blackwater, which he named for the peat-colored water of the swamp.[10]"
But apparently if Blackwater wanted to shot the person that named it they can do that.