It is named on the map view (non-satellite) for the 3 highest zoom levels. I also doubted dmayle's allegation, but did find the label after a minute of searching. I agree with the suggestion that the label should show up on lower zoom levels.

Hmm, I'm using the new Maps "preview" interface, looks like the city only shows up in the old version.

edit: the marker appears and disappears in a seemingly random way, and goes away completely after zooming in satellite mode.