Yes. This is from the same CEO who wanted to name his first 3 models of car "S, E, and X" (the 3 was going to be the model E, but renamed due to ford's trademark).
I always tell people that BFR stands for "Big Rocket." It's more fun to let them fill in the blank.
I wish people would take notice... Too often, I see creative/meaningful/evocative product and company names criticised with this sort of I'm-not-complaining-but-other-will-thinking.