I really [on edit] DON’T [/on edit]have a dog in this hunt. So my only insight on this is that when I discovered that he chose to take the name Francis, as an homage to St. Francis of Assisi who vowed poverty, my only thought was that he was dissing his Prada slipper wearing predecessor.
That being said, when I heard what Cardinal Jorge Bergoglio chose for his Pope name, I looked up a list of all the Popes, and it turned out that there was an actual Pope Hilarious.
More correctly there was a Pope Hilarius, in the middle of the 5th century, who was later sainted.
Go figure.