Please tell me I'm not the only one who sees this

I found a story here via here about the new name of the Winston-Salem single-A baseball team, which was recently renamed the Dash. Now, if you think that's an unbelievably stupid name, well, you're not wrong, but what's worse is the logo:

Now, I hope I'm not being unnecessarily puerile, but that does look like what I think it looks like, right? It's even purple, for crying out loud!

Who approved this, anyway? Did they think it was a joke that they could slip by everyone? Sheesh.