Used to describe anything bona fide or legit like as a seal of approval.

Originated from Andy Griffith (speaking on a Ritz Cracker TV commercial):
"Mmm-mmmmh. Anything sits good on a Ritz." Supposed to mean that Ritzes are so excellent -- ritzy, even.
IT SITZ ON THE RITZ refers to being good enough for a Ritz (figuratively).
Not limited to just food>

A buzz word being used to refer to creators and influencers forming or encouraging unhealthy relationships with their fans. Usually used in the context of young audiences feeling they have a relationship with the influencer due to the huge amount of the influencer’s content they consume. The influencer in question, however, is unaware of the fan’s existence other than the general knowledge of having fans. Common examples include Dream and his stans. These relationships are exacerbated by the influencers confirming they have more than a creator-to-viewer relationship.

The word is circulating due to various YouTube essays about the phenomenon using the word, and therefore people who enjoy complaining about influencers repeating what they heard in the video in any comments section they can find.