In case anyone is confused why Ford called their new electric SUV a "Mustang" - it's for attention.
Escape doesn't come with up to 600 hp. Resurrecting an old nameplate like Bronco could make sense, but would take them into a different direction. Those were a bit more rugged than a road oriented crossover.
Mustangs are popular, it implies performance, and they know 100% of everyone will complain and talk about it - while news spreads like wildfire. It's free publicity.