The term has evolved over time, but it definitively had negative connotations, at least at the beginning.
From the Wikipedia article> This word comes from English dialect geek or geck (meaning a "fool" or "freak"; from Middle Low German Geck)... In 19th century North America, the term geek referred to a performer in a geek show in a circus, traveling carnival or travelling funfair sideshows (see also freak show).
"geek" is a term that is used to suggest that technical people are somewhat subhuman and of course inferior to managers.