I get where it comes form, and it makes sense, but it's long and will inevitably be shorterned to IFTTT which is just awkward.
An acronym/initialism is better if it can be pronounced like a word. CAP is one of them, and thus I feel it's better than IFTTT even though IFTTT's full name makes more sense and is 'good'.
In terms of searchability, "IFTTT" and "Zapier" beat "CAP" by a mile because the latter is a common word. So I can search for recipes with "IFTTT" or "Zapier" but in this case I have to type the full expansion "conditional action programmer."
Whether or not a name like IFTTT is awkward, and therefore bad in some sense, is subjective. Personally I happen to like the awkwardness.
An acronym/initialism is better if it can be pronounced like a word. CAP is one of them, and thus I feel it's better than IFTTT even though IFTTT's full name makes more sense and is 'good'.