The QE2 was named after QEI (1533-1603), it was built as a replacement for the original QE that was scrapped in Hong Kong in 1975.
Prince Philip met with Cunard people when they were deciding on the name for the replacement for the QEI. They told him they were going to name it after
Queen Elizabeth but they meant “the First”. He replied “Oh, I’ll tell her. She’ll be so pleased.” or words to that effect. Cunard was caught and couldn’t very well dis the Queen by not naming the new ship after her.
QEI was destroyed by a suspicious fire in Hong Kong while being converted to a floating University. Rumor had it the guy funding the project ran out of money.