Yes, and the FR means it should be "Fair" and "Reasonable" but if we just believed the names people gave things then who could be against the PATRIOT act, for example. In reality you need to look at what actually gets put into the laws and licences, not just the name.
To give just one example H.264 is FRAND, yet you pay a fee for broadcast television, and you pay a fee for pay TV on the internet over 12 minutes of length, but you don't pay fees for free video on the web (but until recently they weren't guaranteeing that would continue). Why?
Because the TV market is locked-in and they have no hope of switching away from MPEG/H.264 but in the Web market it was much more likely for an upstart like Flash's VP6 or Google's VP8 to compete, so they drop the price. What's non-discriminatory about that? They've structured the licence fees precisely to undermine competition in specific markets. (I believe the 12 minute minimum for charging is because the online porn industry would have switched away if that allowance wasn't made, but I don't have a source for that.)
Furthermore, they put a cap on fees so that big corps only pay a max per year, which means everyone else pays a higher marginal cost per device or unit.
Finally, their business model is incompatible with open-source software and often awkward even for proprietary software distributed cheap or for free. Given all that (and there's more of the same) how can you say FRAND is non-discriminatory?
And there's far too much idealizing of "standards" in this thread. Standards themselves, though often started to avoid horrible vendor lock-in have been thoroughly gamed for a long time, and again often serve the puproses of the usual large incumbents over the end-users or society's needs.