No, it's not superuser actually. It's from su command "switch user". Also check the man page that says "sudo, sudoedit — execute a command as another user". That means not necessary superuser.
You are right, the commands are named for "switch user" not "super user". However, I still think of it as pseudo superuser because that is the default user that you switch to with su or sudo and is the way I use it 99% of the time. And "psuedo" also resonates really well with sudo because you aren't fully switching to the other user to execute the command like you do with su. (Still shows up in original user's command history, etc.)
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