Why is this button of the Windows Explorer labelled "File"?

Since Windows 8, the file explorer has this glorified drop-down button:

But why is it called "File"? It allows the user to do operations related to the OS, but has nothing to do with actual "Files". It's not "Create new .cmd file", or "Select all files". That functionality is in the ribbon tab called "Home".

I ask this because I'm developing a remote raspberry pi file explorer, and want to implement a similar menu. But It doesn't seem to make sense:

Ideally, what should this kind of menu be labelled?