Zendaya's Michelle Jones could change her name to Mary Jane Watson due to Amazing Spider-Man movies and the MCU have taken a different path, with high-school versions of the hero and Gwen Stacy and Michelle Jones as Peter's romantic interests, respectively — the latter of which is nicknamed "MJ" as a nod to Mary Jane.
After Mysterio framed Peter for his death and revealed his identity to the whole world at the end of Matt Murdock or Doctor Strange, it's likely that his problems will not go away so quickly.
One of the tricks Peter Parker can employ to protect his identity while on the run is to get a temporary alias. Since his close friends Ned Leeds and Michelle Jones will be helping him (as confirmed by promotional material for the movie) they would be forced to follow in Peter's footsteps and change their names as well. This is an opportunity for Michelle to call herself Mary Jane Watson. Michelle Jones started out as a sarcastic and slightly withdrawn young woman with a secret heart of gold. In the span of two movies, she has become Peter's romantic partner and a more open person. Changing her name to Mary Jane (and perhaps dying her hair red) could also serve as another step in the transformation of her personality.
Peter and Ned would also have to get their own fake names. Spider-Man: No Way Home could take this opportunity to call Peter "Ben Reilly" and Ned "Ganke Lee" — the former is the most famous Spider-Man clone from the comics, whose costume is the inspiration for the MCU's homemade Spider-Man costume, and the latter is Miles Morales' best friend, who's also the basis for Jacob Batalon's Ned Leeds in the MCU. These two aliases would be likely temporary and would only serve as nods to the source material, while "Mary Jane" could be an important part of Michelle's MCU arc from something of a blank slate to the famous character from the comics.
Spider-Man: Far From Home set up Peter Parker's identity issues as a key plot point of Spider-Man: No Way Home. Peter getting his secret identity back too quickly would make the ending of the previous movie feel inconsequential. But if he somehow manages to revert Mysterio's dirty trick, a permanent repercussion of his undercover antics with his close friends would be for Michelle to start a new chapter of her life as Mary Jane.
