Eventually certain decks will get 'pet' names to describe them. It could be something as simply based around a mechanic used, certain combination of cards, or a typical, generic strategy. Slang or misc. terms also fit often into deck archetypes.
I do still find value in using older, more commonly known (to me at least) archetypes. I do still like to look at how decks will function with the basic three or four types: aggro, control, combo, and midrange.