Not at all, not unless you've been hiding under a rock.
You're right in part though, overclocking is usually pointless especially on high end gear where frame rates are already high.
But it does have its benefits on games such as Crysis, for example, my GTX295 was averaging 55fps at stock clocks (forget the min fps) and maxing out at 65, overclocked, it's now averaging 65 FPS, maxing at 75 and the min FPS has risen enough so that the game is now smooth with no stutter at all (due to min FPS) on full detail. Some people think that might be worth attaining, including me
Not to forget though, to some, it's a hobby to see how much you can get out of your system... Just because one person thinks overclocking is a pointless activity doesn't mean that there aren't people out there who enjoy getting the most out of their system and tweaking every last bit.