Yes, I am aware of that. I am a 36-year-old old-school gamer. I fell in love with the Final Fantasy series when I first played FFVI (III-US) back on the SNES in 1994. It remains my favorite of the series, to this day.
I know the gaming timeline.
That doesn't change the fact that the new 'Materia' system sounds more like, what I said, a hybrid of WoW's enchanting and gem socketing system than FFVII's Materia system.
Shall I reiterate why it shouldn't use the name?