It's just a fashion. It doesn't look great, but that's my opinion. Linking someones dressing style to their intelligence is a bit of a leap..
Not really. If the fashion was wearing socks on your hands, you'd be stupid to follow it. If the fashion is wearing baggy pants around your ankles, you'd have to be stupid to follow it. No benefit of doing it, in fact in impedes you. So you're going around walking carefully so your dags don't fall down, and spending money on that **** in the first place, all to look 'cool'? Yeah...I think it says something about your intelligence AND your maturity/insecurity levels.