Hi,
Yes, if I were building this feature today I would name those settings as you suggest but for backward compatibility with existing installations it is best to leave them alone now.
The setting name serves as both the key for the setting in ModuleSettings but also for the resource label key. So, early on in the project when this was implemented I hadn't thought through the naming convention as well. But since these settings already exist in the wild its best not to rename them now.
Best,
Joe