Green’s Dictionary of Slang

1. (US) useless, third-rate.

1959

(con. WWII) B. Cochrell Barren Beaches of Hell 225: ‘Oh stop bitchin,’ Salty said. ‘Make me, you pissed-out pfc.’.

2. (US) exhausted, finished.

1977

(con. 1969) M. Herr Dispatches 47: He’s all pissed out, Charlie’s all pissed out, booger’s shot his whole wad.