That's exactly where they got the name !
... and most people can't stomach the movie (MMT) long enough to ever catch that part.
Thanks for that, I've wondered for a long time. MMT is a hard movie to find, and I can see why- not the best Beatles movie, but being a fan of the MMT LP, seeing the movie was necessary. Even a worn-out VHS copy is rare.
I also liked "The Magic Christian" where Ringo played the adopted son of Peter Sellers and went on a rampant spending spree. George Harrison was also into movie (and music) production, his company,
Handmade Films, produced "Time Bandits," another classic with comedy as only the Brits can do.
Spinoff: Not related to either the Beatles or Peter Sellers, but nonetheless one of my classic favorites: the original "Bedazzled" starring Peter Cook and Dudley Moore. Filled with those dry, subtle British zingers. "I thought up the seven deadly sins in one afternoon, and the only thing I've done since was advertising."
(Peter Cook as George Spiggot). The remake of
Bedazzled was no where near as good.