The reason why feat names are useful is:
It reminds the players and the DM that feats and powers don't have just to be some abilities people can get to make their character more effective, they also represent something about their personality and their role in the world.
Sure, people could have done that before, but did they? Did you? Sure, it might change a little bit of our understanding of what feats represent (more than just a special ability).
With the removal of Prestige Classes, such feats might even provide more useful - because it allows people to represent their ties to an organization by taking feats associated with it. (Yes, and if a DM wanted, he could enforce it.)
And once you had your fix of the implied setting and want to go to your homebrew, where you probably want to create new organization to fill the setting anyway, the "fluffy" feats gives you ideas where to start.