Not in my mind. I don't see that the freedoms enumerated in the bill of rights are necessarily associated with any particular flag. Historically, sure they are associated with the U.S. and, in practical terms, with subpopulations of the U.S. I think there are a lot of reasons people are waving it these days: 1) to create sense of community 2) to assert that it's US vs them 3) In self defense (where I live the most flags are displayed by minorities (Interestingly the rich neighborhoods display 0 flags.) 4) and some, perhaps, in support of the bill of rights--though this interpretation does not strike me as very obvious.
...as for pandering, sure, if you like. I could have marched with a placard saying "Socialism or Barbarism" (which is what I really feel) but that would not have appealed to anyone except the already converted, so....I tried for something more middle-of-the-road.
It's strange that there are so few avenues for social communication that we need to use these iconic semaphores (flags) to express ourselves. I guess I have very negative associations with the U.S. flag. I thought it was worse than tawdry to go plant it on the moon. But, as I say, I have no patriotic feeling and I couldn't even begin to tell you what patriotism is about in a positive sense.
Joanna Bujes