Back in the sixties and seventies there was a magazine called "Scale Modeler." It acquired a pretty rotten reputation: varying quality of models, shaky research, articles that were clearly shilling for advertisers...you get the picture. And the publishing company got most of its income from softshell porn. But for American plastic modelers it was the only game in town.
I don't have any inside dope on this, but I've always assumed that FSM chose its name in order to differentiate it from that competition.