If you call a person’s life dissipated, you mean they spend too much time on bodily pleasures — drinking, late nights, and the like — in a way that wears them down and looks wasteful. It is a judging word, a little old-fashioned, more at home in novels and moral talk than in a group chat. Younger speakers rarely use it this way; they might say messy, wild, or that someone is wrecking themselves. The same spelling is also the ordinary past form of dissipate, “to scatter until it is gone”: the heat dissipated; the crowd dissipated; the money dissipated. That everyday sense is not a moral attack. The lifestyle sense is. The two live side by side, and only tone and company tell you which one you have.