I like generic names, for many reasons. One is that the NPCs who give their names to spells are often setting-specific. I don't know who Melf is, and frankly I don't care since he doesn't exist in my world.
Also, I have a different taste in character names than many of the spell authors. They are either silly (Melf, Otto) or hard pronounce and spell (Aganazzar...Agazannar...Azaa oh screw it). Names that I make for my characters will likely have the same effect on others.
Additionally, the spells are probably named after the game designers' PCs, so it seems self-indulgent for them to make all other D&D players pay homage to their own PCs.
The names contribute nothing to the spell description. I'd rather have acid spray than lukelightning's spray, which sounds gross. Lukelightning's orb tells you nothing about a spell other than it is an orb.