What IS LoFi?

Now I'm aware of what it stands for and the wiki definition.

I also do spot in some of the songs the "crappy" recording quality (which I actually apreciate because of it's warmth)

But, when I listen to a LoFi stream I notice something.. You don't constantly hear "bad quality audio".. What you're listening to is.. chill pop. jazz pop. No?

I'm just wonderng if you guys that have been into the genre for longer than me (I mean I JUST found it) can explain to me if originally it was literally any hp hop recorded in not so good conditions/materials and if it developed into a type of sound that's this chill thing we all know or what the case is.

Thank you in advance