The hat is outdated and campy. It looks like a movie prop and takes away from professionalism. IMHO.
It seems like the guys who wear it with pride are the same guys who wear their unifom into the grocery store. They probably have personalized license plates with some sort of aviation reference, a wooden prop hanging on the wall at home and the metal alloy version of their AC on the desk.
Opinions vary... I still get the occasional mom pointing the pilot out to their small child... but only when I have the hat on.
Call it what you want. In my experience, the people who complain the loudest about the hat fall into two categories: those who can't be bothered to volunteer for union positions to help their fellow pilots (and themselves) in any way possible and just want to do their "job" and go home, and those who simply look like crap in their uniform (don't iron their shirts, bring one shirt for an entire 5 day rotation, have food stains on their tie from 4 trips back at Moe's, etc).
There are always exceptions to the rule, but by and far, that seems to be the standard.
Incidentally, I don't wear my uniform to the store (although if I have to stop on my way home after a trip, I take off anything identifying and leave the hat in the car), but I do happen to have a very nice bronze small 727 on my desk that was a gift when I upgraded on it back in 2000 and I'd actually love to have a house with a big office, bookshelves, and room for an old wooden prop on the wall.
I'm still proud that I'm a 3rd generation pilot. There's a lot of history everyone else trashes, which is probably why we lack the solidarity to improve our lot in life.
Read the NPA's quote of the week in the blast email you got today. That's EXACTLY how I feel, and how I live my life.