I hope it stands for: "Gosh, renamE Me quick".  Cause that name sucks.

Given Sony's history, they get a pass from me on the quirky, bulbous appearance.  I draw the line at jacked-up names though.

game enhancing mechanism

game enhancement mechanism

Genitalia Extermination Machine

You so know Sony is making it's big play for the expanded market so it stands for "Get Everybody Moving" and it's going to be launched with Sony's own family themed, group exercise game.

Gaming Entertainment Motion

Glowing Expensive Mistake

they announced the price?

I think they miss heard it and its actually G.A.Y.

Game - Enhancing - Motion

i like sphere better, but some type of acronym allows for the continuation of the name beyond a time when there is a giant ball at the end of the controller (future revisions)

because sphere means... giant ass ball.

Glaringly Early Misnomer