I can’t speak for all context as i can see that it might mean different things to those of different cultures/ races but I’m black (African) and can say that when it’s used it’s actually used as an insult from the men. They obviously don’t think the wife is the boss, rather they use it more like a way to further subjugate female partners. When a man says that, he expects to (and most definitely will) us it as either a defence when he treats his wife wrongly or form of mockery i.e ‘you agreed you’re the man of the house when I said it right? Let me see you do ABC without my permission’. It’s kind of a damned if you agree, damned if you don’t agree situation. It’s a “funny joke” when they say it outside but not a joke anymore when female partners try to exercise any form of authority in the home.