Its a term that was maybe first publicly used by a journalist, and one that has become more widely used because people see it as a mark of respect to one the games grandest arenas.
It may well be that the journalist first heard the term in a Liverpool pub, full of Scouse dockers who spent every second weekend filling the terraces of Goodison Park, who knows, who cares.
If it was called "The s##thole", or "the dump", or "the stinks of p##s granny of football" then I'd be right with you. But there is no malice that can be taken from the term Grand Old Lady. It is a term that evokes images of grandeur, an icon, a place that hold memories of greatness, a monument of a bygone era in an ever changing sporting environment. All of that, as I see it, is true, and can all be used to describe Goodison Park.
Im not aware off the top of my head of any other grounds which have been marked with such a respectful moniker. What's Anfields nickname? White Hart Lane's? The Emirates? Would you rather we had been given Theatre of Dreams?
I get that you might just want to call it Goodison Park, which is cool, do so.