Why not? Yes, 4.1 to 4.2 to 4.3 were also only .1 updates but Google still considered them part of Jelly Bean, yet is offering an entirely new name for 4.4. I'd expect this update will be the most significant one since the last name change. I wouldn't expect a design overall either but my guess is this should be the most feature rich update since 4.0 to 4.1.
I feel the same way. They gave it a new name....it is obviously going to be a significant update with many changes....otherwise they would have left it JB.