Yes. Specifically, it's referring to what the academic discipline ought to be called.
Incidentally, I don't think I know any SWEs who actually majored in software engineering. I know one who didn't even bother to graduate high school and therefore has no academic credential whatsoever, a couple of music majors, a few math majors, and a lot of "computer science" majors, but I can't think of anyone who actually got a "software engineering" bachelor's degree. Hell, I even know one guy with a JD. I think I know 1 or 2 who have master's degrees in "software engineering," but that's it.
Incidentally, I don't think I know any SWEs who actually majored in software engineering. I know one who didn't even bother to graduate high school and therefore has no academic credential whatsoever, a couple of music majors, a few math majors, and a lot of "computer science" majors, but I can't think of anyone who actually got a "software engineering" bachelor's degree. Hell, I even know one guy with a JD. I think I know 1 or 2 who have master's degrees in "software engineering," but that's it.