What do you consider alt-right?

I have seen the term Alt-Right used a lot and it seems to be used to describe most people on the right in general. However there truly are people who are far right duh as Richard Spence whom even people on the right despise.

Do you think people who use the term alt-right know what that means or do they just over play it as an excuse?

Discuss, be civil, meet new people.