Words and meaning can change overnight in the English language. I would say "gay" would be a good parallel. There are old people around who still lament homosexuals commandeering "their" word. So, you don't have me convinced *yet* with your proposition on this one.
Their abuse of the word "woke" could be seen as a sign of them taking an arrogant position of racial superiority. The word first used by blacks to warn other blacks, and their children, to be aware of dangers about them.
I think you will find this, oh lala, je ne sais quoi =)