It seems to have three primary uses:
- The poster thinks they've been hacked, and they want to undo what the bad software/entity did. Example.Example.
- The poster is trying to break into something and needs help doing so. Example.Example.
- The poster wants to do something that may require whacking some system's internals (e.g. they're looking for a "Registry hack"), and wants to know how to twiddle those internals. Example.Example.
In the last two senses, hack is just a meta tag; it doesn't tell you anything about the environment or the task. If the tag is not equally undesirable in its first sense, it seems possibly duplicitous of security.
If we want a tag for "I think I've been hacked!", then we could restrict this tag to the first definition. One could argue that there are experts in examining and restoring hacked systems. Unfortunately, it can be difficult for people to tell what behavior is actually the result of malware. Also, doing a decent job of malware inspection often requires poking aroundpoking around to see exactly what changed; it may not be possible to include everything necessary in a question.
Since it means a bunch of different things at the moment, it should definitely be removed at least from questions using it in the last two senses.