But usage seems to be broader according to what you wrote. I reckon the most common usage will be, that something is based, when it is unpopular or contentious, but you happen to agree with it.
I agree with that, but regard it as an evolution from my other answer meaning "established." The reference to contentious or unpopular comes because a based person has earned the ability to present unpopular ideas without repercussion.
Now when I see the term used online it's mostly in the imageboard sense of some idea or concept being 'correct' or 'agreeable' rather than the person who originates it. I think the term is undergoing a certain amount of semantic broadening too - more and more often I see it simply as a synonym for 'cool' rather than in the narrower meaning of 'this is controversial but I agree with it'.
> J.K. Rowling is actually better that Hemingway
> > based
From here it spread to other communities (largely non-mainstream political communities on both the left and right). Its strongest assiociation is still with 4chan (and by extension the alt-right) though.
Edit: I just noticed this is Luke Smith's project. He's an esoteric fascist with an embarrassing love of 4chan memes. So yeah, that's where it comes from.