The main issue I have with catchy names is that people who are new to the game could get taken advantage of and end up paying too much for something that is commoner than the name leads them to think it is.
On the flip side, I have a feeling when people really do come up with something new and try to market it with a new morph name it takes a lot of convincing before it gets accepted by the majority. In other words you'd have a lot of skepticism and opposition at first, especially if you aren't one of the better known names in the business.
I think a photo of the corn in question would be a good way to help determine if this is something different. Of course it would still require some kind of breeding trials to tell if it is a new gene. Then again there's names that describe a snake's genes and others that pertain more to its appearance as in ghost (anery/hypo) versus silver queen or candy cane which describe a certain look to ghosts and amels.
If everyone just came up with random names all the time it'd be chaos. I could sell stellar asteroid moonshine corns and the next breeder would have volcanic eruption magma corns, so IMO it's better that the morphs and types of corns be under some kind of guidelines. I think the corn community kind of polices itself in a way, but there's always going to be those who won't play by the rules. The bottom line, some people will do anything to make a buck, so caveat emptor I guess. (Buyer beware)