It has had a revival with the Ray-Ban Meta AI glasses. I don't know about Silicon Valley, but you frequently see it in tech-oriented forums when the topic comes up.
Good luck reading an article about Meta Raybans without running into the term. That said, the whole smartglasses thing seems to be pretty dead as a concept - at least in part because public opinion is not on the side of folks wandering around with stealthy cameras on their faces