I do not think the movie is "a not very distorted glimpse of what it was like".
More importantly, if movie is accurate, then nerds are no better then evil jocks. They are just two groups of bullies and assholes locked in a fight where everybody who avoids them is doing something smart.
In your school, did the girl that got her nudes public got together with the dude that took them and sold them? You can peel levels of that movie how much you want, you won't get meaningfull image of reality.
these kinds of events can fly under the radar if you aren't involved. I only know of the situation I'm thinking of because the girl found out and complained to the school, which ended up expelling the others involved.