Instead of wasp suggesting the name the avengers, what other name would you have preferred for the avengers?
You know, now that I think about it, many of Marvel's superhero teams have names that sound very villain-ish. The AVENGErs. The INVADErs. The ANNHILATORS. Of course, this is more the exception than the rule but still, food for thought.
As @202122: a while ago, It's perfect the way it is.
But lately they're more like a superhero union now instead of an elite team of heros. So how about The Teamsters?
I don't know that they've ever been that elite. They've been offering membership to just about anyone since just about forever. Some time in the 90's it was decided that being offered membership was a big deal, but prior to that it was really like the more the merrier.
After Cap' joined, the team had their first membership drive (in issue 16?); the first person they (Thor) asked to join? Spiderman. He turned them down. So they went from Thor, Ironman, two mad scientists and one of their girlfriends to Cap' and three reformed criminals.