It's used the same way people use 'jobber'. Going fifteen minutes against Cena/Orton/Punk/Bryan/whatever and losing is not jobbing.
Like your Jericho suggestion, but would like a bit more storyline than 'oi let's brawl'..
Chris Jericho: 'Without a storyline, wrestling is just two guys in their underwear rolling around half naked.'
Jim Cornette: 'They think they have to make up for it by doing all this devastating stuff, but the stuff isn’t devastating if you don’t beat people with it. Then you’re just going out there exposing the business.'
Wrestling, women and money who could ask for more???