I can perfectly understand its definition in terms of other operations and its truth table. Still, I'm completely lost on why "implication" was chosen as the way to refer to it, when it is so disconnected from how we use the words "implication" and "imply" on a logical, day-to-day basis - in the same way we understand "sufficiency" to mean.
Yes, nothing was ever said about $A$ being false having anything to do with $B$ being either true or false when we say "A implies B" in a casual conversation, but the way $A\implies B$ is defined to be strictly true whenever $A$ is false creates a gap between how this word is used in mathematics and in verbal communication in a very striking way. Does this word encapsulate something I'm not seeing? Or is it just an unfortunate historical development, and I should just abstract away that this specific word was used?


There actually is colloquial language corresponding to "false implies anything," sort of, e.g. sayings like "that'll happen when pigs fly" or "when Hell freezes over."
Most of the time we don't bother stating "false implies anything" implications in colloquial language because, by assumption, their antecedents are impossible, so most of the time these statements aren't very useful. However, in mathematics we do things like proof by contradiction where we assume a statement precisely to show that it is false by deriving other obviously false conclusions from it. So in mathematics we actually do need to consider the effects of assuming things that are impossible.
Anyway, as far as I'm concerned the primary justification for talking about material implication is modus ponens: $p \to q$ is the statement such that, given $p$ and $p \to q$, we can deduce $q$. And the material implication has this property. And this is what we need to write proofs, including proofs by contradiction. So we use that.
There's a different and more psychological or perhaps philosophical question of how to really capture the nuances of how implication gets used in colloquial language. One might argue that in colloquial language "$P$ implies $Q$" has something to do with considering possible counterfactual worlds in which $P$ is true, and examining whether $Q$ is true in those worlds; thinking about this more leads to modal logic, strict implication, and Kripke semantics. I don't know that these formalisms really say anything about the nuances of what humans would consider "plausible" vs. "implausible" counterfactual worlds, though.
The SEP article on logical consequence might also be a relevant read.