So the bottom line here is that for small amounts of fields, that Card Type dropdown gives a helpful way to describe the card’s content, but for a longer list of fields, it’s not very helpful (as it’s hard to digest visually). Seems I’m stuck with it as-is. Thanks @Danika_Dakika anyway.
Also for a Cloze type card, there doesn’t seem to be a way to rename it. I copied this originally from the default cloze note type, so perhaps that’s why.