This was asked (and answered) here. To summise, Evan answered:
"Well, two reasons really.
1. I love the song
2. My perverse sense of humour was tickled by the irony in naming a site for hardcore Bowie fans after a song which some might say casts a pejorative cloud over the masses who would idly idol-worship "
Follow the link though, it's worth it for the Dara/Monkeyboy banter alone. Monkeyboy, bring your Dara character back, damn it!
I hope that I can say the things I wish I'd said.