If we're going to argue about terms like that, perhaps each person should explains what each term means for them. After all, to me, merely optimizing your character concept doesn't equal this, either:
In gaming, a munchkin is a player who plays what is intended to be a non-competitive game (usually a role-playing game) in an aggressively competitive manner. A munchkin seeks within the context of the game to amass the greatest power, score the most "kills", and grab the most loot, no matter how detrimental their actions are to role-playing, the storyline, fairness, or the other players' enjoyment. The term is used almost exclusively as a pejorative and frequently is used in reference to powergamers.
Powergaming for me is someone who is primarily focused on creating/playing a character who is powerful even if it makes little to no sense in context, and they are willing to use cheesy rules to get that. For example, a Mage who picked up sensitive system in 4, with no intention of getting any augmentations, just so they can get free points, is powergaming. I generally categorize munchkining as a subtype or extension of powergaming,but say that munchkining is what happens when powergaming is taken to the extreme, with no regards to others. A powergamer can still play with a group and care about what is/isn't fun for them, a munchkin is there for themselves.
The problem is that, while I can understand some people having an issue with powergaming, saying that something like 14 dice, which is easy to obtain without any difficulty, is powergaming is just incorrect. The term powergaming implies that it is different from regular gaming, with a focus on obtaining power. If someone who hasn't played an RPG before can easily pick up the book and make a character with 14 dice just by following their concept, that is not powergaming.
For me there are three categories.
Powergamers makes their numbers as high as possible to give them the most power, then creates a character around that, if at all. Cruch, then fluff, so to speak.
Roleplayers makes a concept and makes the numbers support that, sometimes to the detriment of the crunch. Fluff, then crunch.
Average gamers do a little of both, the concept is there, and the numbers support it, but they might change the concept to support the numbers, or the othe way around. Both crunch and fluff develop at the same time, each influencing each other.