Doesn't mean 'baudy' nor is it 'bit per second' - it's from Baudot a Frenchman who... (the rest is left as an exercise for the reader).
And not to shock you Matt, but the world still uses lots and lots of mainframes. Banks, HMOs, Governments, etc. all use mainframes for lots of current things and IBM still sells a whole bunch of them. There's a whole 'nother world out there that only uses PCs to write letters and play Free Cell and uses 'computers' to do 'real work'.
It's Amino world without Chemists