Sure....CREO is what you get when you let sales and marketing brand the product......Pro/ENGINEER is what you get when you let the technical people brand the product (ie. engineering and development).
In all seriousness, if you had a large product offering with a wide range of names, brands, functions, etc. and you wanted to put them all under a common umbrella, what would make the most sense? You need to create a new brand and give each functional product its own branch. Pro/E is NOT CREO because CREO represents ALL products. Pro/E is just one element of CREO.....hence....Pro/E now becomes....."CREO Elements/Pro"
The reason why we Pro/E users find this odd is because....for the most part.....we're only familiar with the Pro/E product. But PTC has many other products they offer now outside of Pro/E. The only way to really tie them all together is to rebrand them all at the same time. Makes sense to me. But it's not going to be fun to change my tattoos.