I think it just got an ancillary boost from the rise of crossfit. Crossfit coaches began using some of Louie's teachings in their gyms and that turned some people on to powerlifting that way. At least guys like Mark Bell are smart enough to cash in on those clowns.
IMO powerlifting is not a fad, it just evolves. Raw lifting is popular now, and the sport is much more accessible when you can just roll up to a local meet with a singlet and a belt and lift. 10 years ago all the good competition was in multi-ply gear, which meant you needed a crew to train with at least some of the time.