@Felthry Their power comes from being just the root note and a fifth, rather than needing the three notes of a normal chord! (Though they're often played with a note an octave above or below the root.)
Their power comes from the root and fifth having frequencies that are in close to a 3:2 relationship, so you also get this partial tone, especially on amplified music, an octave below what's 'actually' being played, so you have this strong bassy sound that's relatively easy to play.
@Felthry You have to call it *something*.
I don't know why the term 'power chord' was settled on (I can't find an etymology of it), but since its big popularity came with a high-energy rock music (eg, the Kinks' 'You Really Got Me') leaning into what amplifiers could do to the 'pure' notes, I wouldn't be surprised if it's because it's a kind of chord that gets a great sound on electric, that is, powered, instruments.