Triumph of the Nerds - Comics
economist.com
economist.com
It's slightly misleading to say "coined," because the term was already in use for the similar drawings that artists made for e.g. tapestry-makers to copy. (Judging from the name I'd guess these were on large pieces of paper.)
It is quite hard to regularly churn good games or apps like a webcomic artist would despite all the higher level tools that we have today. I think once it becomes easier to convert a game design into a working game say in less than a day, then we would have the rise of artist-centric games as an industry.
So sure, you could have a functional game in an hour off some automated process... but it's not going to be art, and it's probably not going to be fun to see the 3rd game come off that tool, let alone the 300th.
Webcomics work because there is no automation. You start with a blank page and you create everything on that page by hand directly from your imagination. Games that do the same (unique indie and older games, such as minecraft or king's quest) are always far far better than some auto generated box2d jumping game that are all the rage these days. These little quick games are fun for all of 2 minutes before you close them and never look back.
From what I can tell, the biggest source of income for most cartoonists is merchandise and the biggest cost center is conventions (both the cost of travel and of renting a booth.)