More to the point, what does a John Deere S7 600 do, or a 310 G-Tier, or a Z515E ZTrak? Emacs is an editor. That part is descriptive: an editor edits. The product name is not expected to describe what the product is. The general product category is what does that.

Technically it's a "combine harvester" as far as I know, which is more intuitive. Though in practice everyone calls it a "combine".

I'm conflicted because you're not entirely wrong (that it's not just the software industry), but the name is because the combine combines steps that used to be separate.

It's not actually badly named.