for the sake of objectivity, it means exactly what it means, a pyramid and Bitcoin is one.
Then by that (your) definition, so is the stock market. And the PM market.
it is as well, a pyramid. and BTW not my definition, any sane person that have 2 working brain cells would get to this conclusion.
Anything related to money is a pyramid (by your definition atleast). I don't see how bitcoin would be any different
It's not always neccessarily a bad thing though.