Terms for states and terms for continents don't equate. States are usually pretty horribly named. Continents not so much.
And yet the reality remains. Humans will use uninventive labels as names. Just because in real life the current names for continents, using the English defaults, doesn't do so, does not mean it is unreasonable for fantasy worlds to do so. Things like Australia sound interesting NOW, but back when Latin was of far greater importance and had far greater usage, it was pretty close to an unimaginative label.
