The problem: Eventually most modifiers will be node-based, so naming this new modifier "Nodes" will get outdated pretty quickly.
Proposed names for the modifier:
Empty (chosen so far)
It's fairly descriptive, since the node tree simply connects the modifier Input to an Output, without any effect.
Problem: It could be associated with the Empty object type. Like some sort of Hook.
Descriptive. Same as Empty but without the connotation of Empty objects. Grease Pencil has a similar concept of adding a Grease Pencil object without strokes (Add -> Grease Pencil -> Blank)
Just throwing it out there.