Oh man, is this the first thing that makes a new DIYer feel crazy? I had to show my neighbor a tape measure on a fresh 2x4. It reads one and a half by three and a half. They thought they got ripped off. I explained it's the rough sawn size before planing, and the name just stuck. It's one of those weird industry things you just have to learn.
It's the ultimate rite of passage for new builders. You watch their whole reality shift when they measure that first stud. The nominal size versus actual size thing trips up everyone at the start.