As the title says i noticed yet not connected ones change their name to the newly connected p2p.
But if you rename already connected ones it doesnt update the name change on any connected p2p.
Running MC1.20.1 v1.4.1 Forge

There's a confusion in renaming an entire "channel" or solely a P2P device, I will look into it

The behavior in GTNH (as a reference) is that it renames all p2p points that are connected to the one u renamed to match that name.
I would have assumed it was meant to behave like that with the 1.20.1 port as well ?
Otherwise you would have to rename each connected p2p point individually.
I'd understand this as an entire "channel" of p2p points that form a group to keep organized.
In large bases this will be for example a bunch of different fluids where you need each of them multiple times and possbily have mutliple sources or sub routes that would became chaotic quickly if you would have to rename each individual point whenever you make a edit to the naming.