Adding to Otto’s response…
There’s already an existing feature suggestion discussing an option to set a nick name / display name (and icon/photo) for friends instead of depending on them setting one themselves (or in case you don’t like/recognize their set display name). I suggest you comment/vote in that thread in order to help us avoid distracting or cannibalizing votes.
Unless I’m missing some unique aspect of your suggestion I’ll close this thread as a duplicate.
