You understand that it isn't a "euphemism" as euphemisms are substitutions for vulgarity, not substitutions of vulgarity. Notice how the replacement you suggest

You understand that it isn't a "euphemism" as euphemisms are substitutions for vulgarity, not substitutions of vulgarity. Notice how the replacement you suggest, "unwarranted bravado," isn't blunt or vulgar? The term, as it was used, is a metaphor. As a metaphor, its imagery is fair game for criticism. As for the criticism itself, I think it stands as the phrase is unnecessarily gendered.