THIS!!! Thank you!! It's not slut shaming, or implying the cheerleader is bad because she wears short skirts. It's saying that the cheerleader is considered more conventionally attractive, that she's more popular and cool, and that this makes the singer's character feel like she's being overlooked (since she's not a cheerleader or sexy) even though she actually more compatible with the boy.
It's not "short skirts and being a cheerleader is bad and I'm more virtuous because I wear sneakers and T shirts and sit in the bleachers".
It's "everyone seems to think short skirts, high heels and being a cheerleader makes you more attractive, and I feel like the authentic connection I have is being overlooked for superficial reasons".