I don't know about you guys, but at this point I'll often stop reading a forum post if I see this term being used. Not everyone seems to use it to imply negativity, but even so, it's an annoyingly ugly term that just screams "Let's try to be clever on the internet!" Key word, of course, being try.
If you legitimately believe this term to be a good shorthand for Xbox One, then, well, I'm sorry—it's really not.
Perhaps I just hold words to too high a standard.