It is often used to indicate holy or highly evolved people, by prefixing or suffixing it to their real name. Modern manufactures of "alternative facts" copied from old epics. In spirituality, the one who has collected wealth only in monetary terms is the poorest of the poor and not even worthy of called baba - the persons engaged in the business of making money out of superstition and fear for god. They are similar to mullas, priests, missionaries, etc. prevalent in other faiths. Beware of some babas in Shishu Mandir, Madrasa, Missionary faking religious brands: breeding grounds for indoctrinating young minds to become intolerant of counter-views, manufacturing armies of blind MLM followers, goons, terrorists and bhakts - great cocktails for elections, corruption, violence, bigotry and politics!
Babas claim to cure human suffering with irrational lies, cocktailing old practices, head stroking, and empty promises of immortality and enlightenment. In India, everything is done, but never finished. We throw stuff on the ground and think that someone else will pick it up. We throw garbage in the water bodies thinking that the sea will magically clean it up. For Godmen Baba: Spirituality is not taught it is attained. God never told us to worship in temples or worship saints. This is just another export and a blasphemous packaging of Indian culture like Yoga. A majority of those who join these spiritual groups are mostly low level caucasian people who did too much peer loot to gather undeserving wealth and now need some selfie cleansing to become fit for heaven, can they?
Real spiritual babas with kind heart, spreading peace, humanity, showing right paths, clearing dust of wrong knowledge and bolstering a sense of unconditional love towards others etc.. are very few in India (in my limited knowledge) engaged in selfless service to the society without media limelight.
Mushrooming "Spiritual groups 4 poisoned looters gathering undeserving wealth, out on selfie cleansing 4 a heaven berth!" Globally, Alibaba would be a great pick for richest baba after our own desi Ramdev ji.
Success have many colours, meanings and enemies. Value based efforts is more peaceful than custom mantras.