Stands for New Xbox Experience. Literally a whole new layout of the Xbox 360 dashboard and the inclusion of Avatars and the ability to add games to your hard drive. Such as Gears of War 2. Also added was the marketplace to your dashboard and The Xbox Guide, allowing for a lot more advertising. In addition, a newer improved party system enables up to 8 players of different games or similar, if you so choose, to chat and interact.

all these things were not exactly available before the release in... was it November?

A few weeks ago, no one had “cheugy” in their vocabulary . Now everything is saturated with the word. It’s in our heads. It’s in our homes. Everyone is asking: “Am I cheugy? Am I a basic ass bitch? Am I GUILTY of being cheugy?”

The proliferation of cheugy in the mainstream discourse can only be attributed to one source: mental terror. It’s an orchestrated psychological trap to make you question your tastes and interests in the eyes of others.

You are not a cheug. YOU’RE PERFECT!!!!

It is very suspicious that the cheugy mascot is a Minion, a literal cyclops, a deformed
yellow panopticon in overalls ... do not let the all-seeing eye to control you. Be vigilant. Resist cheugy psyops.

Short for "New Xbox Experience"

NXE stands for New Xbox Experience and is the new update to Microsoft's Xbox 360 on Xbox LIVE.
It completely changes the dashboard and has avatars, gives you the ability to delete games off your played games list with 0 achievements. You can chat up to 7 other people in a new 'party' system, private chat still exists but the party is for Gold subscribers only. You can install games on to the 360's hard drive to improve loading times and make reading the disc quieter (but you still need to disc in the drive to prove you own it).

Something that is bad or has low quality it can also be used to describe a situation