Most of the time I hear the term being used by other people (not you :) ), I feel it's for showing off and look smarter than everybody else - "Look, I used dynamic programming to solve that problem", when in fact they were just employing what I'd consider the natural and intuitive approach for solving the problem. There was nothing they actually "used", besides happening to identify that the problem could be broken into progressively smaller subproblems.
As I interpret the GP, the person is peacocking or gate-keeping by (humble)bragging about using dynamic programming to solve a problem. For all we know, they Googled for an efficient algorithm and copied the result. I have done it before, and I have no shame about it. If a teammate asks me how I knew about that dynamic programming algorithm, I would reply: "Are you joking? I could never program that myself. Thank you Google." Except for a few algorithms, most are solved using iterative or recursive.