That's your interpretation that is as valid as any. Another interpretation is that "liberal", especially from a US pov, maximizes individual liberty at the expense of collective welfare, defers quality of life to individuals rather than a responsibility of the group, and as such doesn't really care about you if you're not rich/famous/powerful. Liberalism also addresses grievances by blaming individuals and hiding them from public life, not doing much for the environment that made the problem happen in the first place.