Almost certainly Charlotte is named after the wife of George III, after which Charlotte NC must also be named, since it is in Mecklenburg County and she was the daughter of the Duke (I think he was a duke) of Mecklenburg.
Elizabeth is of course from great-grandmother, and Diana from grandmother.
FWIW, I thought she would be named Victoria Elizabeth, and Mrs. Chajin thought she would be Elizabeth Diana, so I guess the Mrs. gets the closest-to-the-right-name prize.
And no, it doesn’t really matter, any more than the Lightning beating the Canadiens twice in Montreal matters, but both provide a break from reality, which is no fun for most of us at the moment.
Elizabeth is the great grandmother’s name but also the Kate’s mother’s name. So it is a two-fer. So is Charlotte. In fact, Charlotte is a three-fer. There is George III’s wife as you mentioned. It is Pippa, Kate’s sister’s middle name. And it is the feminine of Charles. Diana stands alone and I am very glad they picked it.