Obligatory Matthew Garrett quote from a Linux kernel EFI patch in 2011:
UEFI stands for "Unified Extensible Firmware Interface", where "Firmware"
is an ancient African word meaning "Why do something right when you can
do it so wrong that children will weep and brave adults will cower before
you", and "UEI" is Celtic for "We missed DOS so we burned it into your
ROMs".
Even back in the 1990s, there was ACPI. ACPI 1.0 for example dates back to the end of 1996 (of course before then there was drafts): http://uefi.org/sites/default/files/resources/ACPI_1.pdf But of course ACPI took years to catch on, during which low cost PCs from for example eMachines was coming.