You can have the worst of both worlds. I've worked at three(!) seperate companies which have had projects called 'Hydra' (and the number of people who were ignorant of what the Hydra was, and why it might not have been a great name for a software project never ceased to amaze me.)

I like clever, cute names. That is names like Hydra, Spirit, and others which are unrelated to the function, but which are anodyne and generic and not terribly uncommon end up being the worst.

(I have a soft spot for clever names, my favorite is still Leiningen the clojure build system: https://en.wikipedia.org/wiki/Leiningen_Versus_the_Ants)