Term used to mock crappy retro pixel art/stuff that poorly replicates retro video game graphics. Stuff like this is often seen in faux- retro games and in animation
The phrase is used ironically in a way to describe something that tries to mimic a retro theme, but in a way that's considered lazy and/or inaccurate
This can be applied to anything that fails to be retro, like an 16 bit sprite being in something that's supposed to be 8 bit for example
There's several cases of this, and of course it doesn't just apply to video games specifically
"OH MY GOD GUYS LOOK AT THIS 8 BIT PIXEL ART THAT I MADE OF MYSELF , I AM SO RETRO!!!!"
*The art in question is likely something that is made poorly and uses more colors than what an 8 bit console could handle*