It's just a simplified term to refer to the blend of marxism and progressivism that has become the hegemonic ideology in the West.

As such, it's just the latest iteration of Enlightened Despotism that sprung put of France in the 17th century.

I think it's worth setting that moment as a starting point apart from the premodern forms of tyranny because of the simultaneous emergence (they require each other) of the Westphalian nation-state, which is the hegemonic form of political organization, now more than ever.

The bottom line of this long-standing series of ideologies is a common belief in a centrally planned economic and societal model. That's what it all boils down to, regardless of the label.