I've heard people use minimalist in a derogatory way, like he's a miser or doesn't like nice things.
I think minimalists just pick a smaller surface area of things to care about. Contrast that with maximalists who need to have 100! perfumes, or hoarders who can't let go of stuff and have whole basements filled with things they'll probably never use again.
Once you are at a certain quality of life, it doesn't necessarily get better by having more things. You can only sleep in one bed, drive one car and do only one of so many other things at a time, so why accumulate stuff?
I saw something online about how most people only end up wearing around 14 pairs of shoes every year - interesting theory, true or not. It definitely made me count my shoe collection and let some go.
For me, having less is more - more space to think without the clutter, more resources to optimize on the things you're really interested in, and more time you don't have to waste daily cycling through options like what to wear.
Years ago I lived with a younger lad who would only have a few clothes and shoes for that season. Season ends, wardrobe is thrown out and changes. When he moved out his stuff fit in his backpack, one suitcase and a duffel bag. I remember looking at him with envy as i figured out how i'd move everything i had.
Being fairly nomadic, living in 3 states in the last 2 years and moving apartments 5 times in that period has made me embrace questioning my needs and brought clarity about what they really are. When you have to lug stuff across the country, you want to make sure it's important.
While not everything about me is or will be minimalist, thinking about things in this way helps: there's stuff i need to be functional, other things i need to be comfortable, and some things I could have and go months without using - those can get left behind.
My final thought, is that minimalism done well could really be called essentialism - the disciplined pursuit of less.