A partial misnomer(it doesn't specifically need to be the final one), this can refer to anything which is exuberant, related to something old, and utterly incredible.
That war vet was kickass, he fought off four or five guys who were making him pissed off. He's a last dinosaur.
Someone who is addicted to obtaining money and building wealth. A money addict and fanatic. Breadheads often work more than one full-time job, and some even participate in illicit activities to "obtain the bread".
I don't buy the schmegegge about Morty sleeping with Moira.
His version of the story was pure schmegegge.
The whole schmegegge was made up to get Liz a little bit of attention.
Looking or experiencing something nice after witnessing something horrid like a disgusting gif or a disturbing video. Typically used as eye bleach are nice images of whatever makes the disturbed person happy.