Nosology is way more than just naming of diseases. And this issue is about way more than just a name.
To be honest, chronic fatigue syndrome is actually a perfect name for what it was originally intended as, which was a research framework in which to study persistent fatigue of unknown origin. It's often stated that the original CFS criteria (Holmes '88) is a response specifically to the Lake Tahoe cluster outbreak, but I don't feel this is true by any means. Instead, it was used as a tool by the CDC to deflate the growing belief in a chronic epstein barr virus syndrome, an idea that had taken hold in the minds of clinicians and patients starting several years before the Tahoe outbreak, caused by a flawed understanding of EBV serology tests. I believe this is the only reason why the CDC was interested in it, and the only real effort they made was to prove that the Tahoe patients weren't suffering from chronic epstein barr virus infection. When the CDC began studying the Tahoe outbreak, the investigators actually had no awareness of the prior outbreaks of ME (called epidemic neuromyasthenia in the US) in the US or other parts of the world, despite the fact that 30 years prior, a CDC employee had studied very similar outbreaks and had published details on them. In fact, the Holmes criteria makes absolutely no mention or reference to ME, epidemic neuromyasthenia, or any epidemic illness whatsoever. The conflation of this CFS entity with ME was achieved later, by people like Stephen Straus and Simon Wessely. And it was not done so scientifically but politically.
Now, the name may be perfect, but the concept itself is fatally flawed. Literally by definition, CFS is not a disease. The creators of it happily admit this:
Homes et al. 1988 said:
The chronic fatigue syndrome is currently an operational concept designed for research purposes that physicians must recognize not necessarily as a single disease but as a syndrome—a complex of potentially related symptoms that tend to occur together—that may have several causes.
Contrast this with the current situation where, at some point, everyone started treating CFS as a distinct disease, and even the IOM bestowed upon it the status of 'disease'. With the benefit of history now, we can see that as a research concept, CFS has been a failure. 2+ decades of research using CFS criteria produced nothing tangible, just a pile of unreplicated or contradictory research findings. This is what happens when you ignore actual patients and throw a bunch of sick people into an invented category and believe neat little subgroups will magically fall out of it.
Compare this to the creation of ME, which was a direct response to outbreaks of the disease, and the name and description of which was produced directly by the clinicians that witnessed the patients first hand. There was real epidemiology done on ME, and the results are suggestive of a distinct cause.
There are several overlapping arguments going on here. One comes from the viewpoint that ME and CFS are the same thing, and so the argument just comes down to the name. This completely misses the point.
If you remove the (unconfirmed) assumption that ME and CFS are the same thing, then the argument becomes that of criteria. The "name issue" is solved. You call ME ME, and you call CFS CFS. The only problem left in this case is which disease are people actually studying? To which disease do you assign the various research findings? Can you say that findings found in ICC ME patients automatically apply to Fukuda CFS patients, when not all Fukuda patients meet the ICC criteria? Is that really scientific?
This issue of criteria is truly important. It has real consequences. It's hard to believe that the IOM just glossed right over this, but by creating a criteria (SEID) that requires PEM, they have left behind the ~20-50% of CFS patients that meet Holmes/Fukuda criteria but don't have PEM. How do they justify this?