I'm glad to see smaller bikes coming back. Power density, material science and engineering are better than they used to be so you don't need to get into the viscous circle of: more power = more weight = sturdier parts = more weight etc. IMHO lighter bikes are a lot more fun to ride. Maybe more people are discovering it's fun to ride, instead of out "egoing" each other.
I hope it's not just a sign of declining affluence.