I may be being pedantic, but AFAIK /sbin stood for 'system-bin' or even 'singleuser-bin'. From 'man hier' HPUX:
/sbin Essential system commands. Essential
commands are defined as executables that are
needed to boot the system and mount the file
systems. A full complement of utilities is
available only after /usr is mounted.
Linux:
man hier
/sbin Like /bin, this directory holds commands needed to
boot the system, but which are usually not executed
by normal users. »