ESP's roots are custom guitars for the Japanese market. Their Original Series is the closest thing to regular "production" you get, but they are still made in their custom shops.
Everything else (E-II, LTD, standard series) was made for overseas/export markets.
I can totally understand the company wanting to differentiate the "elite" name of ESP from the export mass produced stuff, as the export stuff is just nothing at all like what ESP is in it's native Japan.
To me the issue or mistake isn't that they changed the name NOW, it's that they never differentiated to begin with aside from LTD. IMO they should have just brought Edwards and GrassRoots to the export market rather than create new product/brand names. And the US custom shops that sprung up in the 80's/90's furthered confused things...And now the "new" US customs do as well...Because they still aren't "real" ESP's in the original "Japanese ESP" sense.
While the Standard Series line and EII and LTD Elite are fine guitars in their own right, they belong no where near the same "name" plate as the true ESP shop made products. I still believe, and it's been alluded to, that the standards and E-II's and LTD Elites are just rebranded Edwards models and/or made in the same factories as Edwards. I believe those product lines are just farmed out to factory production facilities just like LTD's are, only instead of Korea/China/Vietnam/Indonesia (LTD), it's just factories in Japan (EII/LTD Elite/Standard Series).
We (incorrectly) view ESP through US market glasses. We've always been wrong.