By singing it we are playing into their hands. I hate it myself. It was the Rags who started it and we don’t need to sing it. Its meaning is ambiguous and it has become a weapon whatever the original meaning was.
The chant has nothing to do with Hillsborough. Other than that, the chant is true, regardless who started it. When Liverpool fans and Liverpool Football Club start taking responsibility for their actions and admitting those actions, then the chant might stop, until then, f*ck em!