I get that there are slightly different connotations ("Read" meaning "I have read this book" and "Finished" meaning "I have finished this reading of this book") but I find it confusing to use both of these terms to mean essentially the same thing.

I also get confused by "Read" because it can be seen as the verb ("reed") or the adjective ("red"). So sometimes when I start to "reed" a book, my mind takes me to "red," rather than "currently reading."

Maybe I'm the only one who has this very minor confusion, though!