I make hip-hop beats as a hobby. I've had industry people listen to the same track, one with a wide range, and the other "hot" and its always the "hot" track that grabs the attention. Loud is definitely the desired outcome in the music industry. I found the chart on this link very interesting.

Another possibility is that a lot of production and composition has shifted to virtual instruments and computer mixing, often times done by folks who didn't have the engineering training that producers had 10-20 years ago. The computer has allowed a lot more people to create music. Mixing a song with a wide range that sounds professional or even "commercial" takes a lot of time and skill. Making a mix hot takes some level of care but not nearly as much as the other side. If you're trying to make it as a producer, are you going to spend your time mixing amazing tracks or making more tracks?