It's an abbreviation of Error NO ENTry (or Error NO ENTity), and can actually be used for more than files/directories.
It's abbreviated because C compilers at the dawn of time didn't support more than 8 characters in symbols.
与恶龙缠斗过久,自身亦成为恶龙;凝视深渊过久,深渊将回以凝视…