It's both kinda cool, but kind of pointless.
Maybe when we get full ship customization, it would make sense, but as of now, it's rather "meh" to me.
I can see how people like it for when against a all pyramidion team or something, figuring out which team is the more threatening, but those were always easy to figure out early in the game, if you knew what you were looking for. Ram happy pyramidion? Probably not your big threat, just pot him off a bit and focus on the guy who looks like he knows what he's doing.
And what will happen when all the level 10's name their ship the same name as the level 1's? Same problem that people are arguing for why this feature should exist....
We should all name our ships Pyramidion, Goldfish, Squid....just to throw that argument off. "Go for the Pyramidion!" "Which Pyramidion?" "The Pyramidion named Pyramidion!" "But they're both called Pyramidion!"
..."Cut the blue wire Bob!" "BUT I'M COLOURBLIND!"