Yeah, that one's always bugged me. As aikido's a fairly recent invention/synthesis/name, it doesn't make much sense as to me. I guess you could argue that it just means carrying on a modern tradition if there can be such a thing.
What it generally translates as is, "Kinda Aikikai but lets face it they wouldn't let us affiliate in a million years because we're dodgy as hell, and made half of this stuff up." Real Champagne doesn't have "Propper, Genuine, nonfake Champas" on the label.