I think that would make it more confusing. The question and description fields are edited in different places. If it just said "edit," then nobody would know what the difference between that and "edit description" was without clicking both. If it said "edit question," I think people would expect to be able to edit the description from the same place too. As it stands, its purpose is clearer, isn't it?
I find it extremely poorly labeled, mostly because few people know that it's there or know its purpose. More than once, people have replied to me that there is no way to edit (alter, change, modify, correct, clarify) the "discussions" that they have posted, and I've directed them to the Rename button. It's happened so often that it indicates the confusion I mentioned above. I myself did not know about it in the beginning, just like other people. I think the word 'edit' is more appropriate and purposeful. ~
Just Asking 