1: formal religious veneration : worship
2: a system of religious beliefs and ritual ; also : its body of adherents
3: a religion regarded as unorthodox or spurious ; also : its body of adherents
4: a system for the cure of disease based on dogma set forth by its promulgator
5 a: great devotion to a person, idea, object, movement, or work (as a film or book) ; especially : such devotion regarded as a literary or intellectual fad b: the object of such devotion c: a usually small group of people characterized by such devotion
I feel we can eliminate meanings 1 through 4.That leaves us back where I suggested. I see you state you are not familiar with the term. I have seen it used in books before, can't recall the source, but I defininately have no doubt as to its meaning. It is definately used in the derogatory sense. I have also heard it spoken. For instance it came out in a program I was litening to via internet radio some years ago.
It's no big deal, just a term. But it does exist.
P.S. I will look over wikipedia's page on cults later today. Thanks for the link.