Think of it as just another fence in the revenue management system. I have seen AC offer name change as a feature on some top fares, bit it seemed not to last long. the airline does have name change possibility on some of its flight pass products.

But I think the main question is why it's taking longer than you expected to get your refund. I'd give it 2-3 and and then hound the airline. IME I've never had it take longer than that unless it was pretty complex like a partial used ticket.