Yeah, it’s both an overarching label for the LGBTQIA+ community at large and also a label that some people do identify personally with, as they may feel that no others really fit but they still are part of the community.
My wife, for example. I’m a trans girl, we married when I was still deeply buried in the closet. She’s ostensibly cishet - she’s more attracted to masculinity, she wouldn’t consider herself a lesbian or even bi, but nonetheless she’s happy married to another woman.
She’s doesn’t like saying she’s straight anymore - she says it doesn’t capture our relationship. She sees me for the woman I am, this isn’t a situation of her denying my gender, and she says it doesn’t feel like a straight relationship anymore. So if she has to pick a label she just calls herself queer and that’s good enough.