Glen, I may have sstarted this thing away back when with questioning the lack of difference in pitch between .370 Low Profile and nominal .375 or 3/8. That kind of innuendo strikes my fancy too. As for getting into a great useless harangue about how the manufacturers and retailers should change the designation to reflect mathematical exactitude, I think that is very unlikely to happen. To attempt to do so would exact far more confusion on users than now exists.
The present system works. If surgery to correct a blemish is going to leave a scar, I aint for it, so there! lol!