Apple Silicon is just perfect in my opinion. Calling it “Power PC” would be silly, confusing and technically incorrect.
I’m curious to see what is going to be the naming scheme for the actual processors. They are going to migrate every product line eventually, so I’d assume they have to come up with something different for each individual category of product.
For consumer Macs and laptops, I think they might keep the A-series name:
MacBook Air: A14X (same as next iPad Pro)
iMac, Mac Mini & MacBook Pro: A14X Max (more cores, stronger GPU)
For high-end Mac workstations with better cooling capacity, I think they will make a specific processor line to replace the Xeons, mostly differentiated by number of cores:
iMac Pro: X14 16/24/32 cores
Mac Pro: X14 32/64/128 cores
I would expect the X-series of processors to come about one year after the debut of the A14X, so they might be based on the next generation of Apple Silicon and be called X15.