It's great to see Twitter testing and innovating. Though I don't see myself using it much, I do know my 3 teens have said they would and I feel it will help with them attracting today's younger generation. I feel long-term it's a great strategy for them to increase MAU's. Time will tell. As for the name...who cares, everyone will probably still call it stories ;)
With today's cancelled culture we are seeing an increasing number of people 'tweeting and deleting' - mostly out of fear and freedom to express 'fleeting' thoughts. So this new feature makes a lot of sense. With that said I hope this doesn't increase the number of aggressions, disinformation and abuse that we are already seeing.