It started being meaningless thanks to Let's Encrypt. Before it meant you had to show your ID and banking info to a "reputable" corporation for them to make a cert for you. Yes I know I know, not always the case, but...
LE means that the mantra "if it's https then it's a secure and reputable website" is now outdated.
> Before it meant you had to show your ID and banking info to a "reputable" corporation for them to make a cert for you.
No it didn't. Let's Encrypt made free certificates easier to get, but Let's Encrypt doesn't do less verification than some other CAs/some of their products.
LE means that the mantra "if it's https then it's a secure and reputable website" is now outdated.