So I've been playing the French a lot over the past few months, and quite a few folks play the exchange variation. I noticed in the opening explorer that there are a handful of games with the riposte ...Qxd5:

I also heard that Nakamura sometimes played this line. What are people's views on the value of it as black? Is it automatically better to play ...exd5 instead, or are there some good ideas behind the Queen recapture?

I dunno, It looks like scandinavian I gues.

Nakumara is the 8th highest-rated player in the world. Nothing personal, but I don't think you're qualified to follow in his footsteps here, judging from your rating. 

Stick with 3...ed5 for easy equality. The FD Exchange Variation sucks ass because it allows Black to develop his "problem Bishop" ie QB with ease. 

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Yeah, that was my thinking as well. My worry was that a super GM would have all sorts of immensly complex ideas that would be beyond me, and so I guess my question was is there value in the queen recapture in a simple 'first principals' sense. You may be right, it's probably best to stick with the pawn recapture.

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Actually, Nak just played weird openings like the warward queen attack for fun and normally in blitz, or against a weak opponent, or when trying to get out of theory. Now he is "serious" about the game, he plays things like this not any longer.

Often weaker players will try the Exchange Variation against the French when facing strong players because of its "drawish" reputation.  Some strong players play moves like 3 ...Qxd5 just to get out of any theory and leave the players on their own, when they can be fairly certain they will quickly take over.

It is more of an "In your face - I can play this junk and still beat you, sucka!" opening than a serious attempt at objective play.