I do think it's part of many people's vocabulary. It's a bit informal. And it's not a word you use every day. But it's definitely a word that gets used when the occasion calls for it, just like the related verb "verschlimmbessern."

"Enshittification" isn't the same thing. "Verschlimmbesserung" is when you try to fix a loose connection in a power cord and then no electricity flows at all, or when you try to fix a bad haircut with a trimmer and the haircut ends up looking even worse, etc.