360 was pretty dumb as well, it puts you in the same place you started.
Yeah, its a terrible name. But what else would they have named it? Xbox 2? That would be really bad, because the general public would see the choice between "Xbox 2 or Playstation 3". They'd read it as, "3 > 2, why should I buy the system with the lower number, its obviously worse," and buy PS3 instead.
Our OS who art in CPU, UNIX be thy name. Thy programs run, thy syscalls done, In kernel as it is in user!