1) n. At one point one of Nickelodeon's most popular cartoons that people of many different ages could enjoy, but has recently degraded into a very childish and bland series. He's kind of like a Chemotherapy patient- Nickelodeon has managed to keep him alive, but now he's just a shell of what he was.
2) n. A slang. Another was of saying "Closet Homo
1) "Hey guys! I was watching Spongebob the other day and I realized they were ripping off episode plots from other cartoons like Baby Looney Toons and Rugrats in a desperate attempt to keep the series going!"
2) "What's up with that new guy at the office? Is he a Spongebob?"