It’s the opposite of the current slang of “woke”. The “red pilled” line is a reference to the movie The Matrix, where when you take the red pill you wake up to reality. All the terms refer to political opinions, with “woke” generally used for left or liberal opinions and “based” used for right or conservative ones. “Red pilled” often describes someone who has changed opinion, most often from left leaning to right leaning. I believe the origin of “based” as slang came from the idea that those who are “based” have their opinions based in facts and research, even if the feelings of some don’t care for their ideas, whereas those who are more “woke” will often cite anecdotes or feelings to back their ideas.
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