I think you're thinking of "high/low-value." Regardless, hateful people will often try to wrap their ideology in terminology designed to mimic academic or scientific writing in order to appear logical or disspassionate. The red pill use of "hypergamy" is another common example.
It is very common, probably stems from the time when that kind of bullshit would actually be considered "respected" science. I have to ask what's wrong with the word degenerate? I have used the word my whole life, and now I'm mildly concerned, lol.
As someone who studied econ, I feel like I should take offense ;D
Degenerate, in slang more commonly degen, is more or less a term for a low-life or morally repugnant behavior. It seems to have been picked up by the stock market gambling community (which is kinda funny in this context, didn't know that), but I recall it being a thing over a decade ago in the circles that community is enmeshed with, such as 4chan. Was used to denounce gays, masturbation, that kind of thing.
It's an academic term used in anthropology circles, studying primitive, ancient, or even non-human social structures.
In ape or chimpanzee social groups, high-status individuals (male or female) may have more mating opportunities, be able to eat first, insist on the best spots to sit, whatever. The specific benefits can vary from culture to culture, species to species.
It doesn't mean low-status individuals are shunned at all. They're still part of the group. But for whatever reason, they aren't given as much trust, opportunity, or maybe respect, as others in the group.
In our modern social world, it would be the correct scientific or academic term for people who are unable to attract a sexual partner, or make many friends, or build much "social capital", for any of several possible reasons.
People who have a job, or even a career, but wouldn't be considered for management, would also be considered low-status in that context.