Why? Well, out of over 300 possibilities, they chose this one, in the end, because it's not "associated with geeks and dysfunctional, antisocial boys in their basements with video games and stuff like that", and would appeal to women...and because their "young tech-savvy viewers" say that it's how you'd text it, anyway (because, we all know, when using texting of any kind, you shorten things as much as possible, and Syfy is a WHOLE LETTER shorter than SciFi, after all). Besides, “it made [them] feel much cooler, much more cutting-edge, much more hip...", which is obviously better than improving the quality of their programming.
I dunno, I see "Syfy" and I see "siffy" at best...and "iffy" is how I'm classifying this plan, in the end.