I find it a useful if admittedly stereotypical term - a generalization of certain classes of prominent notes and accords that at any particular time are more associated with fragrances marketed to men than with fragrances marketed to women. While it is politically and culturally admirable (in my opinion) to note the underlying general truth that masculine means that somebody put "Pour Homme" on the bottle, the fact that the existing dichotomy is probably artificial in nature doesn't make it any less real or useful.
It's like a lot of stereotyping terms - it's useful but increasingly useless, both with time and with understanding.
I would not be surprised if there is, ultimately, a small gender bias underlying scent preferences, but I would hasten to add that as a person becomes more enamored with scent, the dimension of appreciation quickly exceeds the dimension of any such preference, and the WEARING of scents then reduces to a question of social comfort, to which there is (in my opinion) no correct answer.
Also not my intention to offend - just to express how I see things.