> In particular I want to draw attention to the nonsensical naming scheme (this is clearly not related to anything to do with GPT)

That particular part doesn't mean much.

The name "ChatGPT" has become a new and exciting name like "Google" was in the early 2000s, so people are latching onto it for marketing purposes. The techical accuracy of a name doesn't really matter if it helps you attract new customers.

But even so, the tool could still be junk and/or a scam.