It would seem logical to name them for where they are and what they do. “Bathroom motion sensor”, “Bedroom lamp”, etc. However, I’ve found that, if it can move, it ends up moving sooner or later. My “bathroom” motion sensor is now in the upstairs family room, for example.
I do exact that and rarely move stuff. When I do I rename it. Most of the stuff I have is Zigbee, so I rename it in Zigbee2MQTT, select the option to rename it in HA too.