I don't know from whence you got that short def'n; but it surely doesn't capture the "cutting" aspect; here's what I have for grangerism, which at least suggests nefandous acts.

May 9, 2006
the worthless word for the day is: grangerism

[fr. James Granger who published a 'Biographical
History of England', with blank leaves for the
reception of engraved portraits or other pictorial
illustrations of the text.]
(cf. grangerize, to so illustrate)
the practice of illustrating a book with engravings,
prints, etc. cut from other books

"The only drawback to Grangerism is that it leads to
the plunder and mutilation of valuable books for the
enrichment and amplification of others. It is stated
in the advertisement to the fifth edition of Granger's
Biographical History of England, that at its first
appearance the rage to illustrate it became so
prevalent, that scarcely a copy of any work embellished
with portraits could be found in an unmutilated state."
- George Augustus Sala, Living London