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It's actually from the period shortly after WW2 in which there was a 'boom' in the population because so many people were getting kids post war. Nowadays people use the term incorrectly to just describe old people. But the oldest boomers are now around 78 while people aged 50-60 also get called boomer for showing entitled mayonaise colored behavior.
The term boomer has indeed stopped defining a post war generation and instead now describes entitled, rich and out of touch (white) people.
That makes sense. This is why it's important to trace the meaning of words through history. I'm curious now as to how entitled, rich and out of touch the post-war generation actually was – and whether the current 'boomers' have given the actual boomers a bad name.