Yet another one of those words that were made up by advertising executives to put into the mouth of today's supposed youth for the purposes of selling crap that's made to seem "extreme". "This sounds like the kind of stupid crap kids would say", they said, and apparently they were right. The use of this word in any context is admissible in most courts as evidence that the speaker is a complete fucking idiot.
"Have you heard of 'steezy'? It's yet another bullshit synonym for 'cool' that can be used to make old products seem new somehow!"