https://en.wikipedia.org/wiki/Arity
Edit to add: I've heard and used arity for at least 10 years, in particular in the Clojure community. I've heard of Elixir and understand it shares some common ideas with Clojure and Ruby, but never been a part of its community.
I personally haven't really heard this mentioned anywhere outside of the Erlang/Elixir sphere.
Also, interestingly, it was available from Javascript 1.2 to 1.4: https://developer.mozilla.org/en-US/docs/Web/JavaScript/Refe...
I think it's a useful name for a useful concept, not sure why they'd take it out, "Function.prototype.length" is a much poorer replacement semantically (but hey, Javascript isn't known for its correctness or well-thought-out design...)