It's related to making what what you study easier to digest by keeping on studying (like you ghot dal) something school kids do when they revise their notebooks ~ 10 times.
Ghoting is much more appropriate word to describe muggus for the simple reason that it captures the essence of what they do ;)
I don't know the origin of this word but it's genius.
ghoti is what you write down to confuse someone. Pronounced 'fish', it utilises the 'gh' from 'cough', the 'o' from 'women' and the 'ti' from 'action' to become a confusing little bugger. If you are writing to a posh person, be sure to start a conversation about fish, and say 'ghoti' several times. It means fish, too.
Dear Fishmongers,
The ghoti you sell is weird and unhygenic! That ghoti made me sick twice. I hate your ghoti!