1) The default name is random. Not Pit Monster.
a) I'm sick of seeing Pit Monster. I'm sick of seeing Pit Monster Vs. Pit Monster.
b) This way I can trade my soul plates en masse and remember the name of the one that doesn't suck instead of trading, tossing, trading, tossing.
2) A better matching system. Perhaps, you get in a queue, you see the other available opponents, and you send an invite to one of them. Fights are done in the order you and your opponent confirm a match. (edited to clarify what I was saying)
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