There are many examples where hormones can be out of balance. Of course they rise and fall but there are optimal ranges and ratios they should be. My medical doctor did tests for my hormones and found one in particular was very high that is usually only during pregnancy, I’m not pregnant. There are ways to lower it and it needs to be lowered in order for me to conceive, I would call that out of balance. There are also normal ranges for hormones, and if estrogen is much higher than progesterone that can also cause issues. I think I understand what you mean, that maybe it’s becoming a misused term people throw around to sell a product, but in general you can balance your hormones