It should only mean what you think, but all the hipsters adopted the name to anything with the right "look" and single speed because they think it just means "fixed speed" (ie: ratio).I always thought fixie meant no free hub, like a track bike. Direct drive. Apparently these days it just means a single speed?
I used to work with a couple of track riders and that was what they used to tell me.Nope. They’d be wrong.
It’s a common enough misconception.