It has recently become a word to mean "douchy, good looking, popular guy that gets all the girls". It's basically a way for men that aren't getting laid to make excuses for themselves, and hate other men as well as women (for not being attracted to them).
Example:
"I spent $2000 on a pick up seminar and still can't get a date while Chad goes around and sleeps with all the women without effort"
"No matter what I do my life will suck cause I didn't win the genetic lottery and was born a Chad who goes through life easily"
etc.
Whether this "Chad" character actually exists is questionable since the guy that looks like a "Chad" might be a drug addict and attempted suicide 5 times in the past 6 months but we don't know that so we just assume his life is perfect.
Example:
"I spent $2000 on a pick up seminar and still can't get a date while Chad goes around and sleeps with all the women without effort"
"No matter what I do my life will suck cause I didn't win the genetic lottery and was born a Chad who goes through life easily"
etc.
Whether this "Chad" character actually exists is questionable since the guy that looks like a "Chad" might be a drug addict and attempted suicide 5 times in the past 6 months but we don't know that so we just assume his life is perfect.
