Sure - but there are other pilots fed ranks. The game could on the same logic have been called "Elite: Entrepreneur" or "Elite: Ranger". It's still the combat rank which is in the subtitle - the face value impression of the name is probably more important than an obscure bit of lore with - so far - no in-game effect.In essence, the name of the game is "Don't take video game titles literally."
Also, the primary title is "Elite", which makes it the sequel to three previous games which were heavily focused on combat and danger in space.
(I kind of wish they had called it "Elite: Safe" and whenever anyone complained about getting blown up pointed them to some obscure thing David Braben said once about the Pilots Federation keeping its master ranking database in a safe)