Naming a range on Excel sheet results in the name's watermark beneath the range?

Question

I just named the range on this sheet as "S_ums" through the Name Box and then this happens.

Does anyone know why would the name appear as watermark/backdrop/background of the range?

I personally researched for ways for something like this for years and was quite convinced that this kind of watermark specific to a range was impossible in Excel (I mean besides WordArt).

I may have unintentionally triggered some keyboard shortcuts that led to this, but I am not sure which is it.

Answer 1

Even though I'm using Windows, I've discovered that, if I reduce the view size to 25% then a similar watermark appears:

so the view setting required is possibly just larger on a Mac.