Technically, it means: "there is a problem here." Practically, it means: "I'm going to start complaining now, and if you don't agree with me, you are the problem."
One of my favorite "problems" is based on the "fact" that everything we see in media becomes a transcendental reality that nobody can evade, thus we have to constantly fight over who gets represented and why and how. Of course the premise has massive holes in it, and the representation being fought over is often unimaginative clunky stuff churned out by a committee. But that's not problematic.
So whenever I see the word "problematic" I think of some bureaucratic middle manager looking over a memo from above dictating that he or she is required to enforce a policy directive.
Source: Am queer and read this kind of stuff all the time.