Sure, you can make up any new term and define it how you want, but people will carry expectations based on the word you pick; if I had been the first one to coin the term "enshittification" and defined it as "the process of making something better", pretty much everyone would be confused, and for good reason. The mismatch here isn't as severe, but almost every time I've seen the term mentioned in comments on this site there's a discussion in the replies litigating whether the usage of the term was correct, which is a tell-tale sign of there being inconsistent expectations around the meaning of a term.
As an aside, it's interesting that the phenomenon of expectations around the meaning of terms goes beyond obvious relationships to existing known words but even to the way a word sounds: https://en.wikipedia.org/wiki/Bouba/kiki_effect