Yes, we know what it means in French.

It started as an internal joke: flip the d to a g to make "merge".

Plus it was a bit of a hat tip to the remarkable Julia Evans's Oh Shit, Git!?! (Merge? Merde!)

And then someone went and purchased a domain name and then...well, it happens. (The name also lends itself to lots of bad puns.)

The AI space is so full of hubris and puffery that a little puerile self-deprecation is maybe at least a change?