Magnus, I think you'll find the historians among us would go crazy if that became a WikiTree policy because we strive for historical accuracy!
When my college changed its name in 2004, the public relations people in charge of the effort sent a letter to all the graduates -- including those who graduated 50 years before, offering them new diplomas with the new school name on it. This gesture was met with anger among the graduates, all of whose memories were associated with the old name. Yes, today's graduates are fond of the new name, but the old graduates know they graduated from the old name school, not the new name school.