I'm not sure what your trying to point out here. If you create a new ship type it will populate the default name. If you take the steps to upgrade a design it will retain the name of the design. 

It's not really a bug. Also, you can rename the ship how you feel. Much of this is from the classification of ships that has been mostly retired in GC4 Supernova. In early GC4 and in previous games weapons were more of a rock paper scissors. The Cutting Principal is a Altarian ship was a corvette type or a medium ship with beam weapons. The Concluding Words is an Altarian ship was a paladin type or a medium ship with balanced weapons. So if you have multiple types of weapons that name is chosen. 

For presets you'll probably see mostly balanced types since the presets are designed generally have all three weapon types. 

As before it's mostly a flavor thing and the ship designer tries to pick a name using the old designations but it has no impact on the game. 

I would also expect to find "Cutting Principle M0" at the top level of the ship design heirarchy, like the other primary design types.

As, the following....