The One branding isn't hard to figure out. It was meant to be the One place to go for games, tv, movies, etc.. I mean I'd be more annoyed at the 360 branding and even that had some sense behind it's naming. Also how would you advertise the One S? It's a games system and 4K media player. It's currently the only way to play games and get 4K Bluray and streaming, hence the "ultimate" moniker. Where's the confusion?
When you call an Xbox One "ultimate", it implies that it won't be immediately followed by another Xbox One that's far more powerful.
"Xbox" was a perfect console name. Xbox 360 was a terrible name, and it probably led to directly Xbox One. The consoles should have been named the Xbox, Xbox 2, and Xbox 3.
Now, they're just stuck with coming up with a series of nonsense names.