I don't think it is. In addition to the things that Lawrence has already put forward (that modern users of the term tend to not be anarchists, and often, authoritarian), it is sometimes used to talk about projects that are not exclusively Anarchist, but are organized along anarchist lines.
This is sometimes because people are afraid to use the a word, but sometimes it reflects a project in which some participants don't feel an affinity towards anarchism. In my own life I have used it to refer to things that are not explicitly Anarchist, but are anarchist, when talking to people who don't already understand the differentiation and I don't have the time or energy to explain that there are black flag waving Anarchists, and that there are also lots of things organized in ana anarchist fashion that would not call themselves such. It is not a case of my not being out as an anarchist, but rather a shorthand.
This does admittedly present a problem when Maoists, progressives, Trots and the like are also using the term, which is why I try to both be explicit about my own politics and to take the time to explain the difference between big- and little-a words.