It's like 8 different and mostly unrelated disciplines, so, "hardware security", "software security", "vulnerability research", "exploit development", "software reverse engineering", "cryptography engineering", maybe "systems security" if you want to put OS security in a different bucket from software security. And then all the IT and risk management stuff (network security, corporate security, &c). This is off the top of my head. Most of this work is totally unlike QA.
Even the parts of it that are like QA (vulnerability research, say) are pretty unlike QA; the bugs you find in QA tend not to be driven by adversaries, so you get to work with a relaxed set of constraints. QA work is much more process-focussed, about repeatability and coverage, and less about detailed study of how systems work. In hardware and cryptography, the work closer in spirit to vuln research is called "verification".
There's superficial vuln research that any QA person can (and should! but probably doesn't!) do. But if "looking for bugs" is "QA", have fun explaining to people writing Tamarin proofs for protocols that they're just QA engineers.
None of this is to belittle QA work, which is very difficult to do well, and which has its own subfield of ideas and research and tooling and stuff.
Yes, it almost doesn't have any meaning at all as a term. It's an umbrella for a bunch of disciplines that are less similar than, say, QA and software development. It can also, as you intuited, kind of be a "tell" for people who aren't thinking seriously about the computer science of security. It isn't automatically, but it pretty clearly is when you're using it in the same breath as "security is just QA". It is the CISSP of terms.