I think React itself is awesome and I've always enjoyed it. While I'm not an expert, it's conceptual foundations and core abstractions felt right, and I do think it makes lots of frontend tasks simpler, especially for non-small projects.
At the same time the frontend ecosystem is a mess, as we all know, and as my CSS skills advance I see more just how much could be done with HTML / CSS / limited use of JS and your classic REST app, that's not a single-page app, and how much complexity might be able to be avoided and thus time saved.
At the same time, I don't think it's just "trendiness" that has caused the growth of React and SPA's. I think they give us various wins that we probably take for granted because we're now used to them.
So, the short answer to my long ramble is, I don't know.
But I do think React itself, specifically, hit a sweet spot in terms of being a powerful yet understandable tool, and still remaining a tool, as opposed to a framework.