I wouldn't say the term is degrading, but the negative media attention on the inconsiderate and potentially dangerous techniques have definitely changed things.
I forget who posted it recently, but he told his mom he was hypermiling, and she was definitely not happy to hear that! Why? Because she'd only ever heard about it from the media. Considering the ratio of people who understand the practices, vs. the vast number who have read the negative stories, I'd say the term is definitely damaged.
Have to give Wayne due credit for coming up with a catchy term that got wide exposure and drew attention to the issues. But I'd bet that he's wondered about the wisdom of having called it "hyper"miling (see Ben's point).
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