I've heard Levy say a number of times he didn't come up with the term ( he'd heard it before as a joke term from someone at Rocky I think).He just popularised it. And people latched on as it does the job to describe that niche of mtb.
It's less clunky than 'short travel trail bike' which is just painfully anoraky.
Long travel xc bike? Medium travel all mountain bike? Whatever try selling those phrases to a marketing firm