A word used to describe an organization that was founded on radical principles, but over time waters down its principles until it stands for little.
Also used to define an organization that is based on an ideology from another decade. An ideology once popular, but continues, despite becoming less popular, due to some self-serving individuals having a vested interested in continuing it.
Person 1: So I got involved in this political movement
Person 2: And?
Person 1: Turns out they used to be an egalitarian group of hippie leftists.
Person 2: And then what?
Person 1: Now most people don't know what they stand for. That, and they tend to be run by a bunch of jerks.