I don't have the link, but I remember having read that SAS actually wanted to call their new level Platinum, but as this term was copyrighted by others (maybe CC companies, I have at least two Platinum cards from banks), they had to find something other than Platinum.
Probably better that UAs similar level which is (used to be?) known as 1K
1K is still alive and kicking over at UA. (Funny enough, at AA Gold is actually the lowest elite level.)