The Eight (and others) were called the Ashcan School because they painted subjects of the lower classes in New York. This group of artists focused on depicting everyday life in urban settings, capturing scenes of city life that often included gritty realities and the working class. Their artwork emphasized the raw and unfiltered aspects of city living, portraying the urban landscape in a way that was not traditionally considered beautiful or glamorous. The term "Ashcan" reflects their willingness to portray the less polished and more authentic aspects of society through their art.
While the other options presented in the question provide interesting information about the Ashcan School artists, the most accurate reason for their nickname is their focus on painting subjects of the lower classes in New York. This distinction sets them apart from other art movements and highlights their commitment to portraying the realities of urban life through their art.