This seems to be common definition of 吐槽 that we see on the internet:
在对方面前不配合,有意不顺着同伴或朋友的意思说话.在同伴或朋友说场面话或大话时,揭穿场面话或大话,不给同伴或朋友面子.在很多时候,带有相当的戏谑和玩笑的成份.在网络上,吐槽多表示抬扛、掀老底、拆台。
I think the nearest English expression for this definition is "pick on someone". This means "Repeatedly single someone out for criticism or unkind treatment in a way perceived to be unfair. Note the elements of unkindness and unfairness.
"Teasing", on the other hand is much milder and is neither unkind or unfair.
More objectional is "bitching", 大概是"Lulu吐槽体"吧。
Much more serious are internet bullying and internet trolling, which are psychologically sick behaviour. Akin to these are assault and harassment.
Most of this is thuggish behaviour.
To my mind, there is nothing funny or honourable about 吐槽。It is not something we should do. It is not a term that the Chinese people should be proud of or think is fashionable.
It is all right to argue, criticise, disagree, debate, so long as we are reasonable, fair and sincere.
We should welcome criticism if they who criticise are truly knowledgeable and sincerely wish to help us. We should never dismiss knowledgeable criticism as 吐槽 or 喷。
I love China and it would greatly pain me if educated Chinese people found great entertainment in 吐 anything in other people's 槽 or in unkind harassment of others.
On the other hand, it would equally pain me if it was felt that criticism could no longer be kind, fair and knowledgeable, or that differences in opinion, such as on a platform like this, would no longer be encouraged and indeed enjoyed, and would simply be dismissed as mere thuggish or childish 吐槽。