It says "component". How many components do you have? I suppose if need to deal with more than a dozen components simultaneously, something is wrong. What is worse, the overhead of maybe not knowing a one-word description of component FancyName once in a while (so you have to look it up, pressing F12 or such), or having to deal with a obsolete, too long name (trying to be clear, or having too disambiguate between multiple redesigns), or unfitting name: all the time you're working with the thing?
Screens are huge now. You can fit long names. Auto complete makes typing long names easy. Let your code read like prose. Save the brain for solving the business problems not for understanding the code.
Long names are easier to read the first time, and become an impediment thereafter. Especially when you have multiple long names that differ only in a few characters.
