A derogatory term used to insult men. The fact that pussy refers to a woman's genitals means that this term, used as an insult, assigns negative value to women's genitalia and also to women in general.
"I can't believe Jeff won't go out drinking with us. Dude he's such a pussy!"
Pussy is a degrading term, it insults both men and implicitly insults women. Pussy is a term of oppression.