In most programming languages there are a similar message for a common situation; when you refer to an object that does not exist, quite often because you wrote the name wrong. What I found a bit remarkable when I heard about it first time was that ORA-942 may mean two things, either that the table or view does indeed not exist, or you do not have access to it. An example of the latter is when some user has created a table in her schema, and you try to query it, but you have not been granted a privilege to do so. Instead of you receiving some error message like "access denied", Oracle responds with the same error message; "table or view does not exist", even if it does exist. It may have added "for you" to make it more correct. I think there is a good reason why this is so, and I think it has to do with optimisation.
If you enable sql trace, you can see Oracle runs queries against obj$ and objauth$.
select obj#,type#,ctime,mtime,stime, status, dataobj#, flags, oid$, spare1, spare2 from obj$ where owner#=:1 and name=:2 and namespace=:3 and remoteowner is null and linkname is null and subname is null
select grantee#,privilege#,nvl(col#,0),max(mod(nvl(option$,0),2)) from objauth$ where obj#=:1 group by grantee#,privilege#,nvl(col#,0) order by grantee#
The first checks for the object's existence, the second looks for privileges granted on the object. By the way, the results from these queries may be cached so you won't always see these in the trace file. Exactly what is going on behind the scene here is unknown to me, and I also think that the implementation of this has changed during the years with different versions of the database. But if you look at the second query, that fact that no row is returned may come from either the fact that no privileges have been given, or that the table does not exist. So, instead of going an extra round in the dictionary to see if the table exists since no privileges exist on it, Oracle simply returns the same error message "table or view does not exist".
It is probably a good security practise to not inform unprivileged users about the existence of objects they have no access to, but I thought it was a smart optimisation by Oracle back then, because I was used to see error messages like "access denied". The way they have done this saves extra work. By know I think I have lost the attention of everyone except my best oracle nerd friends, so I thought I could sneak in a confession here at the end. Some years ago I started to practise ORA-942 in my own life. You know in those situations where people suspect you know some secret and start asking away about stuff you are not allowed to pass on? Instead of me having the burden of creating excuses or explaining why I can't tell, I simply answer "I don't know". That saves me a lot of extra work and I don't consider it a worse practice than mining other people's brain.
Have a nice weekend!