My understanding is that it was created in response to a ton of Musk spam which was primarily positive, when he was first emerging as a popular figure. People got fed up with hearing about him, and started Enough Musk Spam to point out how absolutely terrible he actually is.
Nowadays, there’s much less positive Musk news, so it feels more like a misnomer. But it was started as an attempt to highlight how bad he is. Seems to have worked a bit, tbh.