It seems a bit peculiar to us, but it makes more sense in the native Italian tongue, it's expressed as an exclamatory remark in Italian, more than simply "the", it really means more like "The Best" or "The Most" or "The Pinnacle of", etc.
That being said, it remains a bit awkward for us to use, something they might not have fully realized in the name selection process
I like the car, it's got great style, and loads of high technology has gone into it
If you're a styling/design geek like me, here's a thread on Ferrari community forum, which has tons of info and images about it's design and styling evolution
http://www.ferrarichat.com/forum/288gto-f40-f50-enzo-laferrari/400737-who-designed-laferrari.html