it just seems like a meaningless term in today's climate.

It is, and in big media this therm is actively used to remove gay, lesbian and bisexuals from mentioning. It is often said instead of "gay" in articles, almost completely replacing "bisexual" and "lesbian" words in articles. My lesbian friend showed me recently few articles about lesbian games on a few big sites, and word "lesbian" was used zero times in all of them, there were only "queer women" or even worse "queer people" (and queer people can be men, so it is not even clear that article about homosexual women at all). So mainstream audience would not even be sure about what kind of people those games are. And LGB people who not yet realized themselves or who afraid of their sexuality would not see those games as games for them and would not see that being LGB is normal and would try to go non-binary way instead.

And I am speaking that from personal experience. I was born in USSR, I was liking boys and was afraid of that and did not knew what is wrong with me. I only learned about gay men from "Voice of America" illegal radiostation, where they said that men can love another men and it is called "gay man". Imagine if they were just saying "one queer person can love other queer person, they are queer people"? I would be still struggling with my sexuality, and maybe even ended up with mental health issues or suiciding. This "queer" word is very harmful for LGB folks, even if it is not used as slur.