Not at all. People/children still bully each other, always have, always will. Now they can easily bully each other through social media, relentlessly.
>Have you not noticed what's replaced these? We have hundreds of subcultures: weebs, dank memers, bronies, demoscene, lifehackers, outside, Bitcoin, competitive Pokémon… What you're seeing is a change in who you're bullying, not a change in reality.
You may have missed the "etc." part of my original post. Weebs, bronies, Pokemon/gamers, etc. were all alive and well during the scene/emo/etc. times, they weren't "replaced", they live concurrently.
Something else is going on, but it's definitely not "bullying is no longer socially-acceptable". It hasn't been "socially-acceptable" for decades at this point.