In short, no. It cheapens the concept. Pressing the escape button is nothing like a long, rare, theosophic journey to realize your unity with the world, and it is nothing like managing to keep your individual identity despite realizing that you have none. There is nothing mystical, transcendent, or cool about it.
I would argue that the experience of gaming, immersing ourselves in another world, is mystical, transcendent, and very cool, in its highest form.
Obviously the average player bashing quicksave and typing "tgm" doesn't represent this, and it does cheapen the idea to associate it with that, but at its highest, what we do when we play these games is a very CHIM-like experience.
I'm not eloquent enough to make this argument, though
In my eyes, it's not demeaning to associate CHIM with just playing games, because these aren't just games. In fact, it demeans the games to demand that the metaphysics presented in them must be something separate and higher that don't relate to the game itself at all.