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Maybe it is because of ‘Warcry’ that GW’s lawyers are doing their job and looking at companies that may have names that are (too) similar to their own ?
We don’t know the exact wording of the letter that GW sent.
We don’t know if War banner were planning to change their name anyway and this just accellerated their plans.
Rebranding isn’t cheap, but it is something companies do for a variety of reasons. ‘War banner’ would make it difficult to convince customers that they may sell more than just stuff for wargames.
Also keep in mind that we as hobbyists may know the difference, but the fact that they operate in the same industry (“sell sculpted miniatures, publications and accessories for tabletop wargaming “) may be enough for a judge to give GW the advantage they need to ‘win’ in court. The fact that one is historical and the other fictional may be too similar in the eyes of the law.
I’m no lawyer though and it looks like they’re already committed to the new name.