The idea for /point came out of working on elevation data. The naming discussion went through /geo, /location, /grid, /terrain, and /spatial.
I called it /point. What I wanted was a way to send one latitude and longitude and get the information we have about that location. Elevation could keep its own endpoint for people who only wanted elevation.
GET /point?lat=39.77&lon=-104.9
The response includes the timezone and the country, state, and district containing the coordinate where those are known. On a paid plan, requesting Deep with ?deep=true adds elevation and the nearest city within the supported distance. Missing information stays null.
The name still makes sense as the response grows. You're looking up a point, and the docs show which information comes back.