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It’s both overused in the way you describe and yet obscure enough that only terminally-online political people have even heard of it.
Yep, it’s a deeply unserious term. It’s only used unironically, in my experience, by people who haven’t read theory yet devote a huge chunk of time to debating online, which is largely a waste of time to begin with. That’s why I focus on just trying to correct misconceptions and provide my reading list when appropriate, debating is just an outlet for frustration for most people. It’s truly rare that debate convinces anyone.