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What Ever Happened to Netscape?
(www.techspot.com)
This is a most excellent place for technology news and articles.
I believe the joke was something like it was spelled "Netscape" but pronounced "Mozilla". Web searches (at time of writing) for "pronounced Mozilla" seem to confirm this. I also seem to remember that its user-agent string identifier was "Mozilla" from the earliest version and never contained "Netscape", which goes some way to explaining why I initially forgot the real history and assumed a rebranding to Firefox.