No question that is the root of the word (though the basic root is simply female dog not being in heat). So if you (or anyone) takes offense that's fair. But that's exactly why so many feminist writer and authors and musicians decided to claim it with subversion and/or irony.
And language does evolve. The dictionary definition of the noun includes both the gender-specific and gender-unrelated usage, while the adjective does not include the former.
Truth is, there are probably more words that we still shouldn't be using than ones which have become more generic or harmless. Like "master bedroom," which has faded. But I'd argue "peanut gallery" or "grandfathered in" are long removed from their racist roots. Then again, in all of these cases it's ultimately not for me to say.