The GNU project has been responsible for the growth of many open-source projects; Linux being one of them. Without GNU, the popularity of Linux would've likely been much less prevalent than how it has been; we cannot, of course know if this is completely true, but the project's influence now cannot be understated. The dynamics of open-source software are too complex to say if one group is more responsible than another with complete assurance, but they've had the largest stake that is visible on a public level as far as awareness is concerned.
Every Linux contributor is important. Even the paid ones.
GNU's as important as any other contributor, and this name is very unnecessary. They are just trying to promote themselves using Linux.
Changing the name is underrating all other contributors and promoting FSF and its GNU Project. The GNU name on the contributor list is enough credit.
You want to run Windows on your PC? No problem, you just get Windows. Want to run OS/X? Just get a Mac and it comes with it. Want to run Linux on your PC? Well, you've got a problem. First you need to figure out what flavor of Linux to run, then find where to get it, then figure out how to install it and whether to dual boot it and then you have to go and do the work. None of these are substantial obstacles to savvy users, but telling my brother how to do it would be like asking him to decode hieroglyphics.
Linux has substantial barriers to gaining market share. About the only thing it has going for it is a name people recognize and a cute mascot. The last thing that needs to happen is dilution of that name by adding an extra set of initials that most people won't understand anyways. Yes, the GNU project has done good work and been critical to the success of Linux, but renaming the operating system is a case of cutting off your nose to spite your face.