LOL, okay, I probably deserved that. I should have explained in my original post that I understood (you'll have to take me at my word, here) as to the "obvious" reason for the name.
What I meant to convey was the possibility that Microsoft was also going for a more subtle effect...which would be for Joe Consumer walking into their electronics store and asking for "The One". Or that the system would come to be referred to as, simply, "the One".
Just my speculation...I think Microsoft may be expecting that many people will, conversationally, drop the word "Xbox" when talking about the system, and simply refer to it as "The One".
I'm laughing my ass off because the OP had this paragraph long theory on why they picked the name, and this reply comes right after it and just destroys everything the OP wrote.