My two cents.
It can be argued that it's the name of the position. Studio 33 is named Studio 33, but can be (and is) referred to the Bob Barker Studio because it was ceremonially named that. I'm at a lack of examples at this moment, but there are plenty of things, places, items, and positions that have an antiquated name because it remained in place after things changed.
That doesn't mean it's always a good thing. Names have changed because they were offensive or ill-fitting and I can see that case here. But honestly, isn't modelling in itself an objectifying action. The number of times James' shirtless body is referenced, or contestants looking for a kiss from Rachel or Amber. If you want to make everything right, drop the models, not just the name of what we call them in an FAQ section.
I think it's fine as a ceremonial name to refer to the current ones since so many references are made to Barker and this was also an iconic aspect of the show's canonization into television sainthood. But I'm also an awful human being, so...