WinFX becomes .NET Framework 3.0

What is with Microsoft and their naming? Now, WinFX, the not-poorly-named managed framework, has been rebranded the .NET Framework 3.0. Which is kind of strange, considering that Visual Studio and Visual Basic dropped the .NET brand and, if I'm not mistaken, WinFX is going to ship on top of version 2.0 of the CLR. Wouldn't it have made more sense to change the name of the Base Class Library (BCL) to WinFX? Oh, and what does this mean for the standardization process?