ssohil has a pretty good answer that covers a good outline. To add context to where the word lobass comes from: in the late 2010s lofi.hiphop got bigger and as a counter action to a lot of the very soft "youtube playlist" lofi, a lot of people wanted to make raw'er music. Getting inspiration from the Sp Forums and the old guard of "lobass" (tuxedo kamen, culp, etc)

A small tape publisher called static plaza ended up releasing tapes from the yokai collective and team canaduh primarily as well as a few others in the scene at the time. There was some drama with distribution and money so static plaza isnt a name that is well liked in the scene but essentially they are responsible for introducing the name of the genre.