Choosing a custom name for a cryptoaddress is easily achieve with coins such as EOS, I think having such for bitcoin comes with its downsides as it erodes anonymity (which is something desirable), I think it is ok you do not have that for bitcoin. No address should be hidden for bitcoin transaction
I guess what they are trying to do is not to hide but to make it simpler. What I think is that they are going to provide an alternate version of your address from alphanumeric to much simple 8-16 characters. The idea is awesome to provide solution to the said problems.