That word is but a weak one to describe Berri, Gebran Bassil, their friends, the ruling class. I’d rather use words like “vampires, zombies” or worse, “bankers”.
But the word بلطجي has an interesting story. It originates from the Turkic* family language. Arabic obtained it with the spread of the Ottoman empire in the region. The word is baltacı and it has a completely different meaning in Turkish. It means Ax builder or Ax wielder. (In Turkish suffixes such as ci or cı are used to describe many professions or roles so baltacı is derived from balta, which means ax). And Arabic got the same role for ji. (Kababji for example in Lebanon).
Turkish speaking people seeing the news from Lebanon thus must wonder why and how that word brought us yet again to the brink of another civil war. And it must be funny in their heads, imagining Berri with an ax.
Ax wielder, with the history of the militiaman Berri, is in fact a perfect description and insult.
* Assuming the word is present in all Turkic languages.