Not the concept, per se, except that I'd imagine that anything made for someone you loved (in whatever manner) would be made with good thoughts for the recipient, and so I can't see why you'd need an organization. But others might feel differently about that, or like that it's part of a whole thing, and so that's not my problem.
It's the name. It's that prayer shawls in Judaism have been around forever (at least a thousand years, if not more). It's that they have a specific role to play in Jewish religious observance and prayer. They are considered sacred objects, and those who wear them are supposed to behave in a proper manner while wearing them.
And while this usage doesn't exactly *cheapen* the term, it changes it from something very Jewish and holy to to us to something...else.
I know terms change and meanings change, and I'm sure the ladies who invented the concept thought they were coming up with an original name, but I keep reading things about "knitting a prayer shawl for Aunt Martha to wear to church", and my mind breaks for *so* many reasons. And, anyway, the original meaning of the phrase is still around and still in use.
I don't know. "Prayer Wraps." "Good Thoughts Shawls." "Love Shawls." Something else.
Edit: I think it's that, unlike most people, I did grow up with the preferred term being "prayer shawls."