n+1 has a marvelous send-up of the hipster-as-epithet:

Epitaph for the White Hipster The uncanny thing about the early-period white hipsters is that symbolically, in their clothes, styles, and music and attitudes, they seemed to announce that whiteness was flowing back in [to the city]. Unconsciously, they wore what they were — because for reasons mysterious to the participants, those things suddenly seemed cool.

link: n+1: What Was the Hipster?

Well worth reading!