aaron, the problem isn't the word 'processor'; the problem is the word 'stream'. A stream is, by definition, coherent (especially in the context of computing); on dictionary.com, one of the definitions is
'a continuous flow or succession of anything'.
The implication that a stream processor would simply be processing a continuous flow of data, rather than require control logic per piece of data, isn't a new concept. The term has been employed in Academia projects substantially before NVIDIA released the G80 AFAIK - look at the examples at
http://en.wikipedia.org/wiki/Stream_processing if you don't believe me.