There are two things I'm really bad at: invalidating the cache and naming frameworks. It has that name because it's very inspired. It's an adaptation of Django.
IIUC the "Nano Banana" name was originally used on LMArena when the model had not yet been announced; the purpose of the name was therefore to be as opaque as possible. I assume they hadn't originally intended to keep using it after the announcement, but it unexpectedly took off among users.