This caused a pretty heated debate/argument on here a while back.
The consensus was that "Bakero" wire is most likely ribbon kanthal, the specific measurements of which are not known.
It was also well documented that "Bakero" in some regions is a slang term meaning "Fool" or "Stupid".
Being a Filipino that actually lived in the Philippines (where the Bakero wire originated). Yes, "Bakero" is a Tagalog slang word for "fool" or "stupid." However, this is just a mispronunciation of the Japanese word "baka-yaro" which also runs along the lines of stupid, fool, and idiot.
I have seen Youtube videos from a guy who calls himself Ziggy Vape. He has tutorials on how he does his builds with Bakero wire (although they are mostly in Tagalog). Seems very legit. His vapor production is awesome. I have also found some Filipino vape shop owners who sell Bakero wire. I plan on buying some but, errrr, it's a little on the pricey side. I also want to know what the real deal is with this. I will definitely give my feedback once I get my hands on some.