On the Naming of Telescopes

Doing my usual trick of completely missing the main point of the article, I note with pleasure that the European Southern Observatory’s very large telescope is called the Very Large Telescope. I presume that the money saved by not paying for telescope naming consultants was re-invested into improving the specification of the aforementioned device?

https://www.theguardian.com/science/2023/feb/15/perfect-explosion-kilonova-neutron-stars-explode