Name Generated?

It means that way back somewhere in a now ancient version of FamilySearch an automatic computer routine created an addition to the name. If the name is correct at this point, that is all that is important. You can just delete the comment so it does not continue to raise questions for people. I would suspect it was most likely that the original submission of the individual, either by a user or the extraction program, had just a first name and the last name was generated by adding the father's last name to the record or something like that. If the name is incorrect, then fix the name and still delete the comment.

The other notation you will see for old "generated" information is dates and places surrounded by angle brackets like <1830> or <New York>. These were never entered or checked by any person. They might be a pretty good estimate or wildly inaccurate.