Incidentally, this has been a major part of the post-election discussion about it.
I agree that the term has become diluted to a point that it's lost most meaning, and in many cases it means "behaviors and opinions I disagree with".
I think it mostly means some combination of: morality police, people against "wrongspeak", holier-than-thou attitudes, white people advocating for topics they don't understand, and in general a kind of tribal behavior that "others" people who don't fully buy into the entire spectrum of ideas this group is selling, i.e. they treat their beliefs as absolutely true, and anyone who questions them or wants to debate them are automatically othered.
> People are just working themselves into a tizzy trying to figure out something to be mad at while also contorting themselves into knots trying to avoid discussing anything material, concrete, substantial, or tied to reality.
I agree and disagree. The media landscape has had a major hand in shaping the discussion, and social media has validated the worst fears of the people working themselves into a tizzy. e.g. if someone supports trans rights but has concerns about minors receiving certain surgeries and wants to discuss those concerns, they're put in the same category as transphobes who wish real harm on other people. Depending on where they raise these topics, they'll automatically be blocked and/or put on lists of transphobic people.
Discussions that actually focus on something material, concrete or substantial are derailed by collective community behaviors that refuse to engage with the concrete and substantial.
It's a sad state of affairs for public discourse, and figuring out how to de-escalate the conversation and somehow return to substantive good-faith conversations might be the most important problem of the century.