I don't think that's any more annoying than "ketchup" or "barbecue" sauce not being trademarked. I hear the sauce made by their original pepper suppliers is pretty good though.
I've tried it, and I do not like it. The flavor is boring.
Checking up on Huy Fong today, I discovered that they have announced another production disruption this month, expected to last until Labor Day. Their pepper supply is too green.
I appreciate their dedication to product! Yes it's a serious supply chain management failure, but I can accept that their requirements are difficult for vendors to meet. A substandard Sriracha might be better than no Sriracha, but there are plenty of substandard vendors already. I'll wait for Huy Fong to get the good stuff sorted out.
I hope they resolve this issue soon and permanently. Maybe they and their old pepper grower can make amends, for the good of humanity.