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Stars have a very defined lifecycle, beginning life as a nebula of loose gas and dust, eventually forming main sequence stars, expanding and growing over time, before finally dying out into a cooling star (a white dwarf), a neutron star, or a black hole. This is not unlike the lifecycle of a human being, which makes name-a-star gifts extremely appropriate for celebrating life's milestones.
With this in mind, consider named stars as personalized graduation gifts. Think of it as a literal star for a rising star looking to make his or her way in the universe. Star symbolism is already prevalent with graduation. Phrases like "shoot for the stars" are common in yearbooks and encouraging graduation cards.
With a star gift, you can take those phrases a step further. Just like a star, your new graduate is grown and now ready to shine in life, something captured with your thoughtful and symbolic reward.