According to this, it’s been around since the 70’s and was originally just a catch-all for files that didn’t fit in the other default directories, but over time has come to be mostly used for config files. I assume it would cause utter mayhem to try and change the name now so I guess it just sticks. Someone suggested “Edit To Configure” as a backronym to try and make it make more sense if that helps anyone lol.
Is there a historical reason?
If you’re asking that in anything Linux related, it’s probably a Yes 99% of the time LMAO
Not just Linux… 99% of the time you see something weird in the computing world, the reason is going to be “because history.”