Walking Simulators can mean two things:
1. it's a semi-literal walking simulator, i.e. "a game where there is little traditional gameplay, except to walk, explore, and progress story (if any exists)." Games like Firewatch, where you literally just walk around a state park, talk on a walkie talkie, and figure stuff out. You can't really call it a first-person shooter despite being played from the first-person perspective with first-person shooter controls.
2. an insult to dull games. Action games that are light on action, i.e. boring. I think you mentioned Uncharted 4 and how some people called it "a walking simulator". That's likely meant as an insult to say that the game is boring because it feels like all you do is walk around, despite the promise of action, adventure, and so forth.
Personally, I don't think it's fair to use it as an insult or in a derogatory sense; the genre might not be new, but it's certainly gaining ground and it is an excellent medium for the more artistic developers out there who want to break out of the traditional mold of violent games, or maybe they want to explain their story through a more immersive means.
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