Network execs are making the move because the popular cable channel has become about much more than spaceships and monsters. The station now carries reruns of Lost, which handily defies the traditional science-fiction genre. Heck, even Sci-Fi's own Battlestar Galactica is considered by many to be more hard-edged drama than anything fantastical. And the new name is also much more marketable: "Syfy" is now a trademark, whereas a generic term like "Sci-Fi", not as much.
I like it. It looks and sounds pretty snazzy :-)