It does have negative connotations. It used to mean someone who enjoys art, music, dance and other cultural interests (often pretentiously so). It has now evolved to mean someone who appropriates and steals from cultures other than his own. For example, a white Caucasian person who wears Indian traditional clothes and claims to be a master yogi could be called a culture vulture.

It means a person considered to be excessively, and often pretentiously, interested in the arts. It may sound negative since he or she is obsessed with the arts in an extreme way.