Well, according to Wikipedia the point is that the two non-existent words hurd, hird sounds the same as herd in English. Hurd represents Hird of Unix-Replacing Daemons and hird stands for Hurd of Interfaces Representing Depth.

So all three refer to a group of antelopes replacing UNIX.

EDIT: as to your question, I think they tried really hard to have the most complicated name. I can’t think of anyone beating them.