This term refers to the increasingly large (pun intended) amount of shows featuring overweight people. The word refers to the fact that these shows use and play on their contestants' struggles with weight to gain a large TV audience. While it started with "The Biggest Loser," it has degenerated to shows like "Money Hungry." Other popular shows in this genre also include "Dance Your Ass Off" and "Ruby."
Did you see Michael on "Dance Your Ass Off" last night? It was total fatploitation, you should have seen him conquer the dance floor despite his enormous belly.