See I used to think that too, but now I think the meaning was the same then than it is now the problem was you had people who were
A.)Normies/Non channers
B.)A-political people till now
C.)People like Sargon or Milo who have used movements or memes like ones from /pol/ and change the meaning behind them to make money and become e-famous, but then drop it when it becomes to hot.(example: Pepe and Kekistan).

and
D.)A terrible game of telephone
It was the same thing with gamergate it was originally I want these re.tards to leave my hobby alone to ethics in gaming journalism which was bullshit. In the case of the Alt-Right their ideology was too hot to handle so they were able to sort of take it back, but with the net negative that normies started disavowing and the media has now used it to wrongfully tar and feather anyone who holds right leaning or libertarian values making it so it's a catch all phrase and not a specific ideology with tenants and values even though that is the case.
Edit: So in other news Ralph is no different than the people he criticizes and shouldn't have touched de poopoo.