I have grown to hate this “word” more than almost any other, and while I don’t fully understand the level of my reaction to it, I can certainly tell you why it bothers me.
If I tell someone about a problem I’m having, and they respond with this word, I am being told they either don’t see my problem as an actual problem, or they’re — at best — unwilling to engage in a conversation about the issue. It is a two letter expression of indifference that hits me far harder than it should.
It doesn’t help that this disyllabic shrug is also a two hundred year old joke.