How do you feel about the phrase "just friends"?

To me it means the two people don’t have a romantic relationship. I’m fine with it.

If too closely examined, yes, I agree with you, but the term has been colloquially used in the way that @JLeslie describes for as long as I can remember (over 6 decades) so it’s kind of cast in stone now. There are really no negative connotations here.

As said by the previous two Jellies, I don’t take it in a negative way.

Just friends, not romantic.

It’s all good with standard english term. I helps state the reality of the relationship when other try to make assumptions.

It gives a clear signal they aren’t a couple. Nothing demeaning about it unless they really are a couple.

I see it as a positive promotion!!! I have many lifetime friendships & I can’t say that about my relationships!!! I care deeply about my friends where relationships tend to come & go. I’ve also noticed that those who get offended by the term “just friends” has NO problem accepting the term “friends with benefits” & I find that a LOT more offensive!!!

I go along with you on that. “friends with benefits” is even more demeaning to the concept of friendship.