Should we call them “Reset event”?

A possible name for the pending radical simplifications of a bunch of economies. Software libraries reset to 1/100 of the surface area. (webpack -> ??) Banks reset to 1/100 of the revenue. (Coinbase vs Citibank) Etc. People use the word "singularity" but I wonder if a better word for this is a "reset event".

Other examples: preppers, various religious end-of-days types, the Trump people... all talking about some kind of reset event.