iOS added more social network-like functionality to the group chats—like being able to name them, set a photo, etc. To me, this helped cement their popularity since you can create a bespoke “named thing” that makes it easier to return to. You don’t accidentally leave someone off when returning to the convo.
I have never used any of these features, I just see the names on the group chat - same as groups texts 15 years ago. I don’t want to hide that with a group name that might make me forget who I’m messaging.