why is a bullhead a seamaster and not a speed master?

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this is probably an entry level question, but with a water proof rating of 500 ft, why is a bullhead considered a seamaster? why wouldn't omega put it in the speed master category?
 
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500 feet is the same WR that the Omega Seamaster Aqua Terra, even the Calibre 8500 versions have, nearly all Speedmasters are far lower than that, especially the manual wind versions which really don't belong near water if it can be avoided.

Also the original bullhead was a Seamaster so it made sense for the new re-issue to be the same
 
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Why is a Mustang II part of the Mustang family instead of the Pinto family?

Because the manufacturer chose to name it such.