The 'S' stands for 'Stupidname'.
I look at that name, and immediately it brings to mind the Apple IIGS (which stank). That then makes me think of the Apple III, which stank to high heaven. It's like somebody at Apple said, "hey, I know, let's give it a name evocative of our greatest corporate failures!"
Seriously, the only worse name would've been the "iPhone Performanewton: Centris Edition". They could pair it with an eWorld membership and give it a built-in GeoPort Telecom Adapter.
Maybe bundle an AAUI transceiver.
Okay, I'm done.