It is not just a fanciful label. In the US there has been a drift from astrophysics and high energy physics to Wall Street. The Cambridge physics course includes an entrepreneurship option. Students get lectures from big shots in the venture capital business on how to take an idea and make something of it. So core physics gets packed very firmly into the first three years.
Biological physics is almost as wide as physics itself.
We have a programme on what happens when you cook water chestnuts. Why is it that when you boil a water chestnut it still retains its crunchiness, whereas carrots don't. That is a part of soft condensed matter physics. The other pillar of departmental success is the Cavendish teaching. Lecturers have a superabundance of technical expertise, but they must also communicate their subject with enthusiasm.