nerds are still smart, the one's that you are referring to are known as hipsters.
Nerds These days are way cooler than in the past
Being a nerd is now cool... I was a nerd in high school and it was not cool; we had to stay at home and study because we didn't want to be pushed around, by the bigger kids. Nerds actually get laid now, and are not the social pariahs they used to be when I was in school.
That's what nerds were, the geeks had a little more prestige because they stalked and freaked out girls which the nerds thought was cool because we didn't have the guts to do it....If you ask me now about my HS years I'll tell you I was the cool guy with lots of girlfriends though. ;-)
now it's just a passing fashion look