It's ultimately just a name and doesn't change the object itself, which remains somewhat mysterious months after New Horizons made its historic flyby. However, this also lets NASA focus on what Arrokoth means to astronomy instead of the uproar over its label. It's safe to say the object's implications for the history of the Solar System are what matter the most.

Here is Dr. Phoebe Farris of the Powhatan-Pamunkey Tribe bestowing the name Arrokoth to the Kuiper Belt object 2014 MU69 at today's naming ceremony. pic.twitter.com/KN7bU2cOPh — NASA (@NASA) November 12, 2019