Austin used to be cool. Austin used to have a bunch of places open until 3AM. Austin used to be a raging live music scene. Austin used to have latin clubs with 12 piece bands and a dance floor the size of a postage stamp that served amazing homemade tamales. Austin used to have cool food places. SXSW used to have a whole bunch of artists you never heard of--and some of them sucked terribly--but that's how cool works. Austin used to have a biker bar that had the best milkshakes in town.
All these things disappeared about the mid 90s (it's no coincidence that Office Space was shot in Austin in 1998-1999). Nothing "cool" has risen to replace any of it.
But people also do forget that unless they were UT students they really didn't like the "cool" people very much back then. For example, Stevie Ray Vaughn, Marcia Ball, and their ilk whom everybody now lionize were considered part of the undesirables. The "hippies" were looked at with a mixture of arms length tolerance and active disgust. And as has been pointed out in the article, race relations have been fraught for a very long time.
I guess that's the saying Oregon traded to Austin in exchange for "Keep _____ Weird": https://archive.ph/tqKyV
there is no try. only posers try. that's the point