Bonus points if it’s usually misused/misunderstood by the people who say it
Yes, it’s a way to move forward with incomplete knowledge, when you need to make assumptions regardless of which theory you go with. There will always be an asterisk by theories or decisions made with this method, because one of more of the assumptions themselves could later turn out to be incorrect, thereby invalidating your decision. Occams razor is very misunderstood and used or quoted incorrectly all the time.