Even assuming that's true, it doesn't follow that every literal interpretation should be or is understood as pejorative, which leads to the question of why this one should be understood that way.
Given that toxic masculinity has specific definitions and specific criticisms to offer that distinguish critically targeted behavior AND also has associated discussion affirming desirable masculine behavior, it makes much more sense to treat it as a specific technique than a general attack on masculinity.
Unless, of course, you think that things like bullying or other forms of social violence for the purpose of establishing personal dominance or personal entertainment is part and parcel with masculinity. Which sounds kindof, I don't know... poisonous or something to me.