Language works through shared understanding.
Let's not pretend this word has decades of deep cultural and etymological history behind it. It's not a technical term or a term of art, it's a meme. It's something Cory Doctorow came up with in a blog post last year that only a few tech people care about. It's a hipster nerd poop joke.
And because it fits cleanly into a description of anything hipster nerds consider to be "turning into shit," it inevitably will, until people get tired of the meme and move on.