iTunes debuted in 2003 with the intention on satisfying lovers of music. Then came apps, TV shows, and movies. The iTunes name is like the Windows name as they both are heavily recognized names for software.
But, over time the design of iTunes along with Windows has changed. Surely Windows is a much more flexible name. This makes the future of the iTunes in question. Calling it iCloud is a possibility. Or maybe an in-the-browser solution part of Safari.
According to Bloomberg, Apple is planning an overhaul of the design for iTunes. A new name could be in the works.
We just know that these design changes will be bigger than any prior design change made that were more visual enhancements such as those made in iTunes 10. Remember the debate over the new iTunes icon that Steve Jobs backed?