It was probably a wise move by CGG to change the name and avoid the legal hassles that would have ensued. That said, the name "Professional Grading Authority (PGA)" really lacks focus and they could have done better.
I've always wished that CGC had a solid competitor... it's just healthy for the hobby. Unfortunately, time and time again CGG has shot themselves in the foot with bad PR moves and questionable quality of materials. Well, I hope they get their act together... they seem like decent folks.