At least this name change sounds good. Nike By You is more expressive than NikeID. It is crystal clear that it is about personal customization. I say "this name change", because recently I heard that Facebook is going to change its name to "Meta".
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I just grew used to Nike iD as a kid. I would get on there all of the time and fill my locker with dope designs that I never was able to order because I couldn't afford them. The new name is probably better for new people and beyond. iD is a bit odd, sounds more like an NFT term nowadays.
Facebook has already changed its main company name to Meta. The Facebook app will remain Facebook. If you still have Facebook, launch the app and at the bottom of the short loading screen with the Facebook logo, you will see the new Meta logo at the bottom. The same goes for Instagram.