It's a verbal meme.

A short term that is supposed to summon up a greater context in your head.

If I say "boomer" I don't have to elaborate, you know what I mean.

If I say "woke," same.

Lately the term has shifted to indicate that it's a failed description.

Like "conservative." It's supposed to mean one thing, but since conservatives never actually conserve anything, it's a modern shibboleth.