Hi rejip,
Very good question indeed.
As you know, IBM had been through SAM (Sequential Access Method), ISAM (Indexed...), and I guess combining these database formats with a few new tricks (Relative Data Set, etc...) had IBM looking for a new all encompassing database name.
Virtual sounds pretty good when you think you have it all covered, just like 'virtual memory' came about when those limitations were 'licked'.
Dimandja