It doesn't convey well in text but I use the term in a derogatory sense against anyone dumb enough to prefer it. Adding X to your identity screams that you revel in victimhood, and are willing to water down your own heritage in order to feel sorry for yourself. It's a pretense of being a member of some exotic but crushed people, lost to the ages because of some unnamable wrong that's definitely not your fault so everyone everywhere should feel bad for you forever.

I do not hate Latins. All are different and respectable in their origins. The term denies them that.