It's called an analogy. It functions similarly to an electrical circuit breaker because it disables systems before things go fully haywire/bad, it helps devs understand the concept by using familiar things
Although it behaves a lot more like a GFCI than a circuit breaker, but apparently nobody involved ever watched This Old House, or any other home improvement shows.
I would like these throttling tools to behave in a different way, one that more closely resembles a circuit breaker. But some rat bastard has already used that name so now I don't know what to call it.