As there is a space as first character after the linefeed, this is a valid line continuation.
In the standard this breaking of lines after 75 characters is even suggested.

So IMHO this is absolutely OK.

True, but the space is added on your end. If I just right-clickt he calendar and export the X-WR-CALNAME is 'X-WR-CALNAME:Crane School of Music', if I go to the ICS url then the X-WR-CALNAME is X-WR-CALNAME:Crane School of Music (Ronald J. Yacketta <yacketrj@potsdam.ed
u>).
Two different ways to get the ICS file with two different X-WR-CALNAME values. Looks like ' (Ronald J. Yacketta <yacketrj@potsdam.ed
u>)' added by code when going to the ICS URL, maybe something is a bit off in that area which is causing a linefeed?

If you use "export calendar...", then it is your own calendar so " (Ronald J. Yacketta <yacketrj@potsdam.edu>)" is not added to the calendar name.

If you get it via ICS-URL, then you could be a different person getting this calendar by public access.
Therefore the original owner is added to the calendar name.
With this the whole calendar name reads:
Crane School of Music (Ronald J. Yacketta <yacketrj@potsdam.edu>)

As this name with the corresponding fieldname is longer than 75 characters this is broken into two lines.
In your case this results in
X-WR-CALNAME: Crane School of Music (Ronald J. Yacketta <yacketrj@potsdam.ed
u>)

You can check, that both means of exporting work alike, when you set a longer calendar name
E.g. test this with "Crane private School of experimental and pure instrumental Music"
With this you will get in both cases two lines, which the second one starts with a space.

This is absolute intentional.
You will also get these linefeeds when you invite people with a long enough email address for the corresponding field ATTENDEE.

This isn't a bug.