“Multiplication gets its name from performing addition multiple times.”
This is incorrect. It doesn’t even qualify as an extreme oversimplification. The word multiplication is based on a Latin word that means to increase. In the context of the real numbers, multiplication is a scaling operation. It is only in the context of whole numbers that multiplication behaves the same as repeated addition but that isn’t what it IS. How does one add sqrt(2) to itself pi times?
Multiplication is defined for other mathematical objects as well. In the case of the complex number plane, multiplication results in scaling and or rotation about the origin. Vectors have two types of products, the dot product and cross product, which have specific meaning and properties. Matrix multiplication has its own behavior and properties.
Multiplication is therefore defined as a binary operation having a certain set of properties within the context of the mathematical objects being operated upon.