Not only is the new "name" completely stupid, but it is pointless because it doesn't change anything. If you tell someone you watched something on the "SyFy" channel as opposed to the "Sci-Fi" channel, they'll still laugh at you, won't know that the channel has a new name, and won't care.
"Imagine Greater" nabs them a second award for Stupidest Motto and also gets bonus points for being grammatically incorrect, though I suppose "Imagine More Greatly" would sound even more stupid (which I would not have thought possible until now).