In my study, it's basically never that the person names the thing after themselves. My theory goes: Often a discovery is presented in a paper by someone(s), who gives it a usually only barely passable name. For a time, only a handful of experts in the field know about it and none of them care to write general explainers for the layman. So they call it what's easy. "[Name] [concept]" because they're used to talking in names all the time. Academic experts have a large library of people's names tied to the concepts in their papers, i know my PI certainly did, every query was met with a name that had solved it to go look up.

Anyways, the discussion begins with these people. Who all use the name to reference the paper which contains the result. As the discussion expand, it remains centered on this group and you have to talk _with_ them and not at them so you use the name they do. This usage slowly expands, until eventually it gets written in a textbook, taught to grad students, then to undergrads, and it becomes hopeless to change the name.

I share the frustration with naming, we can come up with such better names for things now. But until we give stipend bonuses for good naming, the experts will never care to do so. But i wholeheartedly disagree that the problem as a whole can be reduced to "people like their ribbons". Naming something after yourself is so gauche and would not be tolerated in my field at least. The other professors would create a better name simply out of spite for your greed.