“There's a correctly-done NNTP newsgroup joke in there, for pete's sake, and even at the time it was a number of years after that was topical.”

Not only that — it’s part of the joke! The nameless “you” who’s being dissed in the song is so much of a loser that their newsgroup is “alt.total.loser” and that they’re proud of having their own newsgroup at all when they NNTP is already ancient history to the narrator who views themselves as on the cutting edge of technology in 1999.