Your ideas are 100% welcome, but if you permit me to argue the opposing case, I would like to. I think I like your point that the wording is inconsistent, but it shouldn't say "Stream" in the menu because most (~99.999%) USB devices are not Stream devices.
Also, I believe it must be a USB device, so putting USB in parentheses as an example of a device is wrong. It actually has to be a USB device. Streams are USB devices, so that could potentially be put in parentheses.
I'm inferring that you might be thinking that KM puts the string "Stream Deck" in the box itself, which may be what's motivating your idea. Instead, I think (with 80% chance of being right) that the Stream Deck device is passing that string to KM and KM is blindly putting the string into the box. If I'm right, and if Apple someday bought Stream Deck, and if Apple rebranded it as "Apple Deck", the updated devices would automatically say "Apple Deck" without any change in the KM software. KM respects whatever the device passes to it.