If the latest rumors turn into reality, Android Wear will change its name around 4 years after its release. In addition to the new name, Google's upcoming Wear OS should also feature a new, colorful logo similar to the one currently used by Google Assistant. However, this change was spotted in the latest 12.5 beta for Play Services, so nothing is official yet, but we will probably see it happening in May at Google I/O.
https://www.notebookcheck.net/Google-Android-Wear-to-become-Wear-OS-later-this-year.288996.0.html
I like Google's logic
"Hmmm, our project doesn't take off as expected but we can't just bin it. What should we do?"
"Let's change the name! Like what we did for AndroidOne to Android Go or Nexus to Pixel and we make and the old AndroidOne as intermediary segment"