was palpatine taking revenge?

No, the title rise was in the reboot of the Planet of the Apes franchise

Palpatine, also known as Darth Sidious, was indeed acting out of a desire for revenge in Star Wars. His revenge was deeply rooted in the ancient grudge of the Sith against the Jedi, who defeated the Sith Order thousands of years before the events of The Phantom Menace. Sidious viewed the Jedi as a threat to Sith ideals and saw their influence in the galaxy as a longstanding insult to Sith history. In Revenge of the Sith, his rise to power and orchestration of the Jedi's downfall can be seen as the Sith's ultimate revenge after generations of hiding in the shadows, planning for this moment.

As for the title Rise of the Sith, it could work but has a slightly different tone. "Revenge of the Sith" captures the personal and historical grudge that the Sith carry against the Jedi and the Republic, highlighting the fulfillment of their vengeful plot. "Rise of the Sith" would emphasize the Sith's reemergence and ascent to power but might lack the emotional weight of "revenge." In the end, Revenge of the Sith feels like a stronger title for conveying the Sith's final strike after centuries of hiding and plotting.

They also gave it its title because the original title for Return of the Jedi was actually Revenge of the Jedi, so it's a way to pay homage to that.