I clicked on this thread in case it was a question about nude shoes clashing with skin tone, but I wish I hadn't bothered now.
I'm perplexed by how many snide and faux-superior comments there are here - "nude" covers a wide range of different shades, and "shoes" encompasses a wealth of very different styles. How can anybody who isn't forced to wear them want to be so unpleasant about all of them (and the people who like them)? 
I mostly like S&B because it's generally such a supportive place, so bitching bandwagon threads like this make me a bit sad. You know that nude shoes are popular, and therefore it's likely that many posters on this board will own them and be (at least) slightly saddened by reading pages of other people ridiculing their taste for no particular reason. "What IS it about nude shoes" isn't a question, it's just an excuse to play fashion police 
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Onto the matter at hand: I don't think many of them look nice (especially in the platform style), and agree that they are definitely over-used. The colour is also very tricky to get right - they need to have the same undertone as the skin so they don't make you look like a corpse, but not be exactly the same colour value or you get the prosthetic foot effect.
However, I found a pair that I really liked in M&S last year - not pinky, not American tan, not yellow, not beige, just a neutral that flatters my pale olive toned skin very nicely. They have lovely almond toes, low heels, comfortable insoles, and no platform. They also do go with practically everything I wear in summer, and get lots of compliments from my very stylish 22 year old friends. I doubt I'll find another suitable pair that I like, but I've seen other people look great in styles and shades that wouldn't work on me.
Fortunately my self-confidence and general contempt for fashion policing means that this thread hasn't changed my perception of my shoes at all - I know they look really good on me, and my clothes are stylish enough that the simplicity of the shoes sets everything else off very nicely. However, I'd probably feel differently if I was a less confident person who had just spent a big portion of my clothing budget on a pair that I really liked after years of living in sensible, low-heeled black work shoes...