This name is not mediocre, it's sub par. It's not searchable, memorable on its own or memorable in relation to what it's for. You need at least one of those.
In the post they described searchability as one of the strenghts, as the top hits were dictionary link. They also said they're currently #4 for Riot, proving the viability of "dictionary names." As far as memorability, the whole Element in Matrix network is a little corny/convoluted to me, but oh well.
