You've heard it, I've heard it. It's all around. The new popular construction in English contemporary-speak is the phrase 'not so much'. I call it as a step in a positive direction from the older phrase which it seems to be replacing: "It is what it is." I see it as a movement towards people starting to be more judgmental or at least more open in socializing their judgments. Whereas "It is what it is" betrays an air of resignation, "Not so much" requires a bit more context.
You might say, for example, "I found a lot of comfort in the new Ford, but in the Chevy not so much." That's a better response to the question "How do you like the new Chevy?' than "Meh, it is what it is."
I recognize that these tips are not going to make you a Churchilian orator, but every day you can be 10% better. And now you're going to start hearing people everywhere saying it, 'it is what it is?' not so much.