> The same as how "literally" means both "literally" and "figuratively", depending on the context.

I disagree with that analysis. It's true that "literally" is often used when the modified phrase is figurative, but that's not quite the same thing is it meaning "figuratively" - were we to remove the "literally" the utterance would not be more likely to be interpreted as literal. The role it's serving is as an intensifier, and I contend that it's a fairly ordinary example of hyperbole. In the same way, when someone says "you left me waiting for days" we don't say that sometimes days means a handful of minutes depending on context, but that sometimes people exaggerate.

(And I recognize that at least one sufficiently respected dictionary disagrees with me; I think they got it wrong.)