Not quite. That was an interpretation, based on quite a lot of inference ('probably'). On the other hand, the guy who actually came up with the term says he meant it as in 'master copy': twitter.com/xpasky/status/12722807...
FWIW he also suggests that the BitKeeper history might also be valid.
Given the fact that I don't remember why I called a thing that thing 6 months later, wouldn't surprise me if that were the case. It's also possible that both were the case: master, the word, came from BitKeeper, and he also learned that it meant something else.
Yes, you are right. I later learned that the git team were thinking and using 'master/slave' terminology for repos around that time.
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