That’s precisely what they’d dislike about it. You’d be creating “brand confusion” by using their trademark in your own name. You couldn’t make “My Cola (Recreating Coke)” without getting an expensive and inconvenient letter from their legal team.
OP: please do change this ASAP so that the Raycast gang doesn’t protest the really neat project you’ve made!
"I've actually thought about that before; I've tried to be extremely clear in the project's README with a disclaimer that this is a non-commercial hobby project and is not affiliated with the official Raycast team in any way."
Clearly a bright kid, but that's quite a fumble. Among my ideas for being extremely clear about not being affiliated with Raycast I would have to say using their name and using their logo together would be the worst way to communicate that.