My concern with labelling was that someone would be bound to pick up a bottle labelled Dexron III and then put it in a newer auto trans.
My E46 had BMW synthetic Gearbox oil in the MT which might have been ATF for all I know. ATF ( of all kinds)must be a satisfactory gear lubricant or many auto trans would die with dead gears and/or the filters fullof high grade metal dust from the cogs.
I don't mess with transmission fluid because there is a real risk a well intentioned ATF change will be bungled. Transmission fluid is strictly car make and model specific. It must adhere precisely to the automaker's formula. The manufacturer's branded ATF is best. I change it only if I have good reason to believe it may have been overheated, contaminated or the carmaker specifically calls for it.
On the rare occasions the ATF requires topping up or changing I take it to a same brand car dealer or an approved transmission shop. Ideally it will be looked after by a certified automatic transmission technician with the specialized tools and exact fluid the automaker stipulates.
Franchised lube, repair and tire shops are notorious for putting multi-vehicle ATF into cars, or whatever is on the shelf. Very bad idea!