Way to miss the forest for the trees, boss. Calling things by what they aren't just invites unnecessary confusion and makes a setting feel pretentious. Designators exist so we know what to call things and know what things people are talking about exactly when they refer to them. Mucking that up for a small ignorant village that doesn't know any better is one thing; the village thinks a wyvern is a dragon and then absolutely flips shit when they see what a real Dragon is in the flesh, that sort of thing. False rumors exist in games for a reason, but every single player who sees that picture, or has this creature described to them, they aren't going to think, "That's a hill Giant!" they will think, "That's an Earth Elemental!"
Bad naming is bad naming. This is like when Microsoft called their new console the Xbox One. Their already was a first Xbox, this name is just confusing and a bad idea.