The term bitcoin would ideally be applied to a unit with a sane value. As it stands a lot of people think of bitcoin as expensive when that is a completely arbitrary valuation. Right now 1 sat is too small to be the standard unit, and 1 bitcoin is too big. 

I think Adam Back has the right idea and in the near future we'll be pricing bitcoin by the bit (0.00000100 btc) and this will eventually become the unit that laypeople mean when they say bitcoin. Sometime around the point that 1 sat == $0.01.

It's a logical transition for people to think of sats as cents and bits as dollars.