Why should I care about OpenTofu?
TL;DR having options is good strategy, OpenTofu is your insurance policy and competition makes things great.
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Man I hate that name. I love terraform and will probably love the open source version of it even more but yuck. Hahaha. Bikeshedding moment, sorry.
It's probably really hard to find something that shares the "tf" part, but isn't too close to the original name.
Why does it need to share the "tf" part? Just say it's compatible with terraform files as of some version, and optionally make your own format that's separate from the Terraform format so you're not limited by their design decisions.
It's not about the file format, but the naming of the product (and possibly some internal prefixes, but that's just a bonus).