And how long does it take you to parse "svc" vs. "service" in average microseconds per day? With old unix there was at least a need to keep memory use low, today we are only limited by Microsofts MAX_PATH.
/svc, which is a bundle of services from the environment in which the application runs.
Now, since this is a distinctive concept that comes with a learning cost, why not make a short name like "svc" for it? That is actually more distinctive than "service". And you save 4 characters every time you read or write it.