I prefer the term ISIl because it is more correct. The nations of Iraq and Syria no longer exist as before. There can be quibbling about the definition of Levant but it is just quibbling. The area in question is in the Levant
By using the term Levant the new de facto country is described for what it is. Neither Iraq nor Syria will ever return to the previous borders. By using the term, Obama is recognizing the fact. It is not his doing and he has no need or desire to change.
Further, neither the remaining portions of Iraq nor Syria have the ability and perhaps the desire to return to the previous borders. The current battles are about settling the borders.
The future is long ahead. Once the nation is established, the Arab nations will cleanse it of the Islamic radicals that are undesirbles
"Levant" is a region of the middle east where the state we know as "Israel" isn't shown. Using it is a way that Obama can diss Israel.
I don’t have a problem if the new country is called Sunnistan as long as Islamic State doesn’t run it.