This thread is the first time I've even heard of "W Social" so I have no specific insight into their naming, but I'd assume it comes from (gaming/lifestyle) streaming culture where "chatters" will often say "W <thing>" (good, win) or "L <thing>" (bad, lose) as short-form feedback on how they feel about <thing>.

This would make sense but seems unlikely to me, because the people involved come across as incredibly offline.