They're more referring to supporters of capitalism without substantial changes. Liberalism is a mostly useless term because it's so broad and varied, but words only mean what we think they mean. They often want to make the world a better place, but they're totally unwilling to do what it takes.

The colloquial definition has the downside of becoming a tool to discredit the good ideas related to Liberalism. Properly curtailing property rights can be worked into the liberal democratic model as a way to maximize freedom and stabilize society. However, the colloquial attitude of selfish naivete cannot.