No, it is not full of fail.
Tight jeans, trucker hats, and Pabst Blue Ribbon all thrived before the modern day hipste existed as well, and we all know hipsters love to wear tight jeans, trucker hats, and guzzle PBRs. Thats the POINT of being a hipster.. to steal an outdated idea that thrived many years ago and pretend its your own!!
But...
(a) The C-64 has not been embraced by hipsters in general.
(b) This new one may not be embraced by hipsters, because of its price, and because it's really a very modern machine despite its appearance
(c) The original C-64 was very cool in its day. It was soon outclassed by newer and better (and more expensive, at the time) machines, but it was great for what it was. However, PBR has always been a bad beer. And most fashions embraced by hipsters always sucked (the ones that didn't suck have been turned into something that sucks via improper application and/or alteration).
(d) The point of being a hipster is to cultivate an air of pseudo-quirkiness via ironic consumption of bad product and/or exuding false nonchalance. They rip off concepts from both retro and recent trends and badly adapt them to their own use. They are the universal poseur (i.e., every scene and subculture has had its own particular brand of poseur, but the modern-day hipster is the ultimate one-size-fits-all generic poseur)

