I'm sorry, but it really wasn't:
The term originates from the 1984 movie C.H.U.D. In the film, the acronym refers to a group of humanoid, flesh-eating monsters that were once humans, but mutated due to radioactive waste. While the word may have started pejorative use in 2003 to describe any repulsive person, its usage shifted as it became popular in the 2020s on sites such as Twitter and Reddit, after the podcast Chapo Trap House frequently used it to describe those who are ignorant or far-right. Source
The Captain Planet super villains are actually pretty accurate. Looten Plunder still looks like the average Fortune 500 CEO (minus the 80s fashion sense), and Hoggish Greedly is basically just the President.