The right is notoriously great at hijacking words terms/words and flipping them into something nefarious. Or sometimes that exact opposite like they did turning the well supported by all Estate Tax into the conservative hating death tax.
Now woke has morphed into this weird thing. A clapback insult for the insecure to justify their insistence at exclusion of one kind or another.
Some subset of people understands the "true" meaning of the word, and the set of ideas originally associated with it. I suspect the majority of people are more likely to use it in the sense it has evolved into.
Some kind of separation needs to happen. The underlying ideals and ideas vs. the tactics people employ in bringing them about. If someone's MO is to judge/shame people, exert their moral superiority over others, and see the people around them in absolute terms, that set of behavior is particularly harmful to the underlying goals. It presents itself as the "truest" form of support for the goal and the only right way to go about achieving it. But it uses coercion/manipulation to take advantage of people's fear of public shaming and the consequences of "getting cancelled" which tends to ensure silence from people who see themselves as more pragmatic but not interested in getting labeled with "them" for raising questions about reasonable things.
I agree that when people use it now, it's less about anything substantive and entirely about what people feel the word has come to mean. Not sure how, but we need to fundamentally change the conversation.