You're right, it does do that and does it consistently as an entity. I don't think that's configurable. But I do think it's quite appropriate, because that folder is actually called Home. For instance, if you're running commands in your terminal, then you'll refer to it as $HOME or even just ~, which is a shortcut to $HOME.
There is no rule that a users home directory is in /home. For instance, in a shared environment, then users might have their homes in /home/business_a/salesdepartment/username/. If such a user was to refer to his home directory, he'd still use $HOME. Or a more practical example is root. If you press alt+f2 and run nautilus, you'll run Nautilus as root. Home would then refer to /root, just as $HOME would refer to /root in a terminal.
So, when you're referring to your own home directory, its name is Home. However, if in Nautilus you press ctrl+L to see the location, then it's appropriately displayed as /home/username or wherever your home directory is located because then you're talking about the address of your home.
It would be interesting to know why you would want to change this.