I used it a lot back in high school to refer to people that needed to be different and special. People that self-diagnosed serious mental illnesses and claimed they were whatever sexuality was popular that season. Bisexuality became the new hot thing at my high school for a year or two. Not a clue why.
Anyway, a bunch of kids suddenly started to come out as bi, which is fine. Unfortunately, a lot of them later admitted they weren't. They just lied about it for attention. A similar thing happened with the same kids when pansexuality became big.
And then there were the ones that came out as trans, threw big stinks when people didn't use the right pronouns, all that jazz.
Years later I run into a few at college and ask how they're doing, using the names and pronouns they and their friends identified as, and they looked at me with confusion.
Not because they didn't remember me, but because none of them were actually trans and completely dropped that whole thing once they stopped getting attention for it.
So yeah, I don't use it for all millenials, or even people with opinions I find odd. I use it on people that have some sort of need to be special, a need to be different, to the point of bullshitting about having schizophrenia, or being pansexual or trans.