No, it was always meant to be a mockery of people who feel the need to announce basic fuck morality as if it offers value to their position, and those who list off all their positive virtues before an opinion to grant it more power.

So if they open with "I'm against rape" or "I'm a feminist and" that's virtue signalling. Its something that offers nothing but making the person sound more virtuous to try and influence your opinion on what they say.

It was never tongue in check, it was a legitimate mockery of a behavior.