So what is up with the names this Generation?

[SanAndreasX]

The Saturn got its name because Sega had a number of projects in the works in the mid-90s that were code-named after the planets.

Sega Mercury - the Game Gear

Sega Venus - the Nomad

Sega Mars - the 32X

Sega Jupiter - Basically a Saturn that used cartridges, a la the N64, instead of CD-ROMS. It would have had the same dual SH-2 chipset as the Saturn. Never released.

Sega Saturn - self explanatory. Unlike the above systems, Sega didn't change its name from the codename.

Sega Neptune - MegaDrive/32X in one system

Sega Pluto - Saturn prototype with a NetLink built in

Source: Sega Retro