As usual, the context is crucial for figuring out which usage it is.
...checking the American dictionary (descriptive, not prescriptive):
https://www.merriam-webster.com/dictionary/pimp
noun: "a criminal who is associated with, usually exerts control over, and lives off the earnings of one or more prostitutes"
"transitive verb: to make use of often dishonorably for one's own gain or benefit"
"intransitive verb: to work as a pimp"
And yes, I know that there's also MTV. And a "pimp-gate" related to Clinton's daughter and a journalist, as per my other comment here.
You are technically correct, and also wrong at the same time by insisting that the way people actually use words in real life is "wrong" because the dictionary says so. If people use "pimp" in that manner, then it is correct.
> We get a lot of hate mail from people who think slang doesn’t belong in the dictionary. Comments on our definition for OMG include “I am a high school English teacher and heard that this was added to the dictionary and hoped that I heard incorrectly.” and “The human race is heading somewhere very sad.” These people are barking up the wrong tree: We follow language and delight in tracking its changes.
https://www.merriam-webster.com/words-at-play/slang-and-the-...
and
> Some “new” words are already in the dictionary. New words like hashtag and selfie get a lot of attention, but many of the new words we add are new meanings of words that are already staples in our language: think of the recent meanings of mouse and cookie that have nothing to do with rodents or baked goods.
>What about words that don’t make it into the dictionary? They’re still real words!
https://www.merriam-webster.com/words-at-play/how-does-a-wor...
Trying to be offended by taking the worst possible meaning as presumed most relevant is unproductive at best even when both parties are trying to polish the same communications. More likely counterproductive to the goal of seeming better.