Well, in last PFH they told us that we will be able to learn whole story of those items, once we collect all those that belong together. O_o
enchanters would not only name these items frivolously, but invest the time, resources, and money into creating set items for very low level adventurers, and then losing them.
Naming is matter of taste ... not every sword must be named demonsbane, widowmaker, or peacebringer ... my gnome carry a dagger named Bunny Paw ... hoping it would bring her luck without needing to hurt any animal.
As for the rest ... why everything need to have any deep reason?
Is it so impossible in this world that some Wizard/Enchanter simply had an idea, and started creating low and therefore cheaper (even if not exactly cheap) items for research purposes ... wich either prooven to be useless, so he sold them for few coins, or were simply not expensive enough for him to care what happened to them after his research with them was completed? O_o
I mean we also didnt create nuclear reactor out of nothing ... there is allways some kind of progress. O_o
