Two programmers who hate each other's code can call each other's code "technical debt" while extolling the virtues of their own.
Operating systems, languages, run-times, editors, browsers, websites, social networks, .... that I don't use are all technical debt that should die. Don't you lay your deleting paws on what I do use, though!
The term "technical debt" has about as much content as "suckage", "bloat" or "cruft". It sounds more intellectual though.
It's a technical term: I mean, for Pete's sake, just look at it: it has "technical" right in it, so how can it not be! "Debt" is from finance, which gives it an air of credibility with anyone in your organization who approves expenses.