It does make sense from that perspective (which seems to be modeled on cvs update), thanks for sharing it.

Both mercurial and subversion have update do the same thing (update the working copy to be the same as the one stored in the source control), and a revert verb (revert a file in the working copy to be the same as the one in the source control). Cvs and git instead use a single verb (update/checkout) for updating the entire tree or a set of files to a given revision. Interesting!