Yes it is. Language and meaning don't simply change in 10-20 years unless forced upon (such as a conqueror forcing culture). Neologisms are a thing, and that's fine (though I would argue "bling" is a garbage word :) ), but using "literally" to mean "not literally" is redefining the whole purpose of the word in such a short context of time simply because of ignorance. Therefore, I assert what I argued already -- it's not widely accepted -- just widely misused.