I’m glad that you are fine with this workaround.
Still, changing the name in the plugin collection doesn’t change the name in the insert slot as @mlib pointed out before…
I would appreciate to see such a feature, too 
I totally agree. This is just a bandaid to solve one of the issues of not being able to change a plugin name and not a true solution.
I need to do some looking around in the files but there may be a way to change the way it appears in the insert slot. If/when I find that I will definitely share.
A while ago I collected a large thread of Plugin Manager suggestions, here:
As you can see the response is less-than-stellar.
+1
Can the names be edited in the .xml in that video? Is that what people are implying here?
btw, I started a more in-depth protocol thread here:
Rename Plugins - my advice on protocol if implemented - Cubase - Steinberg Forums
Yes, you can. It will change the label shown in the plugins collection, but once you load it, it will load with its original name; however, you can also edit the vst3plugins.xml file inside “Cubase Pro VST3 Cache” folder. If you modify a name there, the loaded instance will show such name.
Note that this applies globally.
So, you can have one name displayed in the Collection and another in the Insert slots.
I’m not sure if that would cause issues in other sessions as I have not tested it, but it’s a workaround.