Swagfags symbolize how a seemingly normal human being can follow a trend of meaningless douchebaggery (mostly through peer pressure) in order for them to feel included and give meaning to their lack of achievement.
They are willing so sacrifice their future and their friends just so they can feel included now.
Swagfags are mostly commonly insecure young people (aged 8-17).
Due to the the fact they haven't achieved anything so far in their life and don't have many friends, they give up on trying to achieve something positive and learning proper social skills.
As a result they join the Swag band wagon with certainty that it will somehow make them successful and get them good friends.
And thus the more Swagfags there are, the more easy it is for other kids to become one.
Person1: "Wow whats with all the people wearing snapbacks, the same pair of jeans and not giving a crap about their school marks these days?"
Person2: "They think they have SWAG, normal people generally define them as Swagfags. They think having SWAG will get them a future through doing nothing but the style of how they do things"
Person1: "But they don't do anything, well at least nothing helpful?"