I tend not to like a minimalist aquascape because of the way I run a tank. I like a substantial amount of live rock because of its biological filtration capabilities. I also like having lots of different platforms for placing corals as well as having many tunnels and grottoes for the fish and other inverts to duck in and out of. That said, I can see the appeal of a more minimal rockscape with its open areas. In fact, just this week I added an additional 30 lb of live rock to my (50 gal) tank and regretted the loss of space. I think that if I were not always wanting to pack more into the tank - more corals, more fish, more "stuff", that a minimalist style could be appealing. I guess it's different strokes for different folks. In the end, I don't enjoy running a minimalist setup because it either 1. limits the quantity and diversity I would like to have, or 2. would require more equipment in order to maintain a more minimalist style while keeping the stocking density that appeals to me.
One minimalist style that I'd like to try at some point is a lagoon with a rock island, surrounded by a sandbed with gobies and pistol shrimp or seahorses. I think that could be really neat.