It was an inside joke 'cause Eastwood's management at the time told him that it was a very risky idea to sink so much of his personal revenue into a film-production company.
Eastwood became frustrated with the corporate BS which kept him from getting some of his film projects made, so he did an end-run around the process and built his own production/distribution company. After his first few huge successes (and the enlarged back accounts that went with it) investment bankers soon were anxious to share the risk in his film ventures for a modest return, and he never looked back.
He kept the name just to remind him of the limits of the value of advice.
By disregarding that fellow's advice, Eastwood made himself a billionaire.