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The Algebra of the Three-ball: Dagger, or self-inflicted wound?

Nowadays, the noun “floater” seems to permeate our hoops vernacular – like the phrase “high pick-and-roll.” Shot attempts dubbed floaters kinda descended en-masse upon the basketball world 15 or 20 years ago, Tony Parker’s distinctive Teardrop garnering the most acclaim.

I’ve never been certain if the “floating” is supposed to represent the shooter’s movement as he flips the ball towards the goal, or whether it describes the ball’s gentle, arcing path to a (friendly?) rim. Whatever the etymology, it’s safe to say that a missed floater is apt to be rebounded closer to the Restricted Area than the Top of the Key, right?