i first saw the term used in the context of “men get pegged,” which was intended as a subversion (at least conceptually) of cisheteromasculine dominance in the sexual realm. it originated as a joke, but still. so like, it has mixed connotations, depending on the context you see it most often in. my issue is really with the way the slogan “peg the patriarchy” mixes and conflates a private act with a public one. i think it’s meant to be a play on the more popular and clichéd phrase “smash the patriarchy,” but the meanings are confused, despite the brevity of the tag line itself. patriarchy is cultural, systemic; pegging is a private sexual act performed between individuals, traditionally played out according to gendered power dynamics (as you mention in your ask), so it occurs under the aegis of patriarchy. in theory it is (or should be) a neutral act. so to collapse them in a catchphrase like this makes no sense and is also inappropriate bc it individualises the act of resistance to oppressive social insitutions (the slogan of second-wave feminism is literally “the personal is political”… does nobody see the irony here). i repeat: satire requires a clarity of purpose and target lest it be mistaken for and contribute to that which it intends to criticise