Surprised to hear that, I would have guessed folks over 40 would be accustomed to "2-bit wh*re" - my dad used to scream that all the time about his personal banker "god damn that man he's a f'ing 2 bit wh..." - pretty sure my grandpa used it regularly also. Maybe my family are not the most refined of people. ;)
Back in the 90s, the anti-Microsoft movement had a slogan that went something like: "Windows: a 32-bit layer on top of a 16-bit operating system originally for an 8-bit CPU derived from a 4-bit microcontroller, by a 2-bit company that can't stand 1 bit of competition."
I was familiar with this as a high schooler but it never occurred to me that 2 bits was 1/4 of a dollar. It was like a nursery rhyme where you don't really think about what the words actually mean.