I'm old enough to remember Chad being used as slang by kids in the skater scene as a derogatory for jocks and the more preppy athletic kids, same with Stacy. It definitely had undertones of toxicity and sometimes resentment because it was often a matter of class status as well, but there was a time when it was used more like an ingroup-outgroup signifier by the more rebellious countercultural crowd before it became an incel thing.
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