The word "journal" comes from french "jour" which translates to "day".
The word blog comes from log which original comes from tabular record-keeping of ship speed.
http://www.dictionary.com/browse/journal:
1. a daily record, as of occurrences, experiences, or observations[...]
3. a periodical or magazine, especially one published for a special group, learned society, or profession[...]
4. a record, usually daily, of the proceedings and transactions of a legislative body, an organization, etc.
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Although, a company publishing a peer-reviewed scientific journal like Nature would be surprising. So maybe that isn't the common interpretation when they see the title. Maybe it isn't totally misleading. I guess I'm split on it. :)
It isn't 2: This isn't what would be generally understood as a 'periodical' or 'magazine'. It doesn't even resemble the trade publications that are often published by larger businesses.
It certainly isn't 4 - Apple isn't giving away terribly detailed accounts of their research activities.
"Blog" is not short for "journal on the Internet", it's short for "web log" and means something far broader than "diary" that you seem to associate it with. It's not just a log/journal on the web, it's a newsletter, a flier, a classified ad, a newspaper, a document repository, a knowledge base, an event calendar, and a ton more use cases. It's all of those rolled into one. And since "journal/newsletter/advertisement/diary/repository online" is too long, we just shorten it to one four letter word: blog.
The weirdest thing to me is when people say they hate specific words when no other commonly-used word exists to describe the same thing. You can't hate a word. It's the most fundamental concept of communication, that we all agree what various scribbles and noises actually mean. "Journal" has a meaning. So does "blog". They don't always overlap.