Since Xcode version circa 8, xcodebuild changed when creating an archive “.ipa” file using the -exportPath command line option. Previously to version 8 -exportPath would specify the “.ipa” file to create. Apple changed this behavior (though the man page didn’t get updated) to output a folder using -exportPath as the folder name which included several supporting files and the final “.ipa” file of the app. The name of the “.ipa” file that was created in the -exportPath was sourced from the Archive Name in the Archive scheme.
Xcodebuild exportArchive changes in Xcode12
How to customize the default IPA file name using 'xcodebuilds' on Xcode12 while exporting from the command line
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Fast forward to 2020 and Xcode12, it appears that xcodebuild has again been changed. The “.ipa” file name is now sourced from the targets Info.plist file under the CFBundleName. The apps title is still sourced from CFBundleDisplayName so releases should show the correct app name on install.

If you’re struggling with continuous integration scripts not finding the “.ipa” file name, try updating the CFBundleName to what you’d like the file name to be and see if that helps.
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