It simply means more like. but its used in stupid chains to link equally nerdy things together.
A:I like the velvet underground
B:Velvet underground, more like heroin.
A:more like illegal drugs
B:more like dumb
A;more like Lord of the Rings
B:More like not.
A:More like dumb, more like Legolas is such a faggot.
B:More like fuck you, buddy, legolas kicks ass. he'd kick the shit out of you
A:More like he wears a fucking dress in the last one. more like he's become such a gay sex symbol over the last few years.
B:More like a kickass fighter and archer.
A:More like that is totally obsolete when lined up to his gayness.
B:More like Ian McKellan was gay and he kicked ass as gandalf, asshole.
A:More like you are such a fag for liking lord of the rings, you fucking homo.
B:More like whatever