The real origin of the name "Budweiser" is that this beer originally comes from Budweis, Czech Republic (Bohemia). The suffix "-er" in German means "of ... origin" and can be applied to both people and things. Analogously, "Pilsener" means "of Pilsen origin", where Pilsen is also a Czech city. An example for a German beer is "Krombacher".
Your prescribed meaning above can at most be called a backronym.
The real origin of the name "Budweiser" is that this beer originally comes from Budweis, Czech Republic (Bohemia). The suffix "-er" in German means "of ... origin" and can be applied to both people and things. Analogously, "Pilsener" means "of Pilsen origin", where Pilsen is also a Czech city. An example for a German beer is "Krombacher".
Your prescribed meaning above can at most be called a backronym.