That's not really what happened...
https://www.theverge.com/tech/856149/microsoft-365-office-re...
tl;dr : the website formerly known as office.com that was a portal for accessing a bunch of stuff changed name to "Microsoft 365" in 2022, and then again more recently (adding the copilot bit).
Edit: Although the horror show that is Microsoft product naming in that area left the door wide open for this confusion.
Replacing Office with Microsoft 365 as the brand is still stupid. I was messing with Windows 11 a while back pre Copilot, and in the start menu was a pre installed spam link for “Microsoft 365 (Office)”. The fact they had to put the old brand in parentheses at the end should have been a hint they’re doing something stupid.