There's something to his "It's like ____, but for ____" schtick. DZone.com is the Digg for developers. Scribd is the Youtube for documents. Hacker News is like Reddit but for people with a clue. It's an awesome elevator pitch if you get it right.
I respect them, too. I'm a little surprised by how many people have harped on this minor detail. The name was intended to reflect how uncreative Pierre is -- embodying the worst of web2.0 copycattery (is that a word? I like it anyway).