It will be back....all of these crazy chalices started coming in and that's what everyone started buying. It was the best way to make some money in the hobby. I think the market just got saturated with all of the ORA (which I LOVE) corals and the "named" SPS pieces. It is starting to come back around with a lot of the wild colonies coming in. I know what you mean though. My display is SPS dominated and I spent a crapload for the SPS I have in there. Sad thing is, I could pick up a SPS pack these days for $250 that would eventually fill up my whole tank. It's just supply and demand. People are just more likely to buy some crazy LPS stuff right now. As much as I love my SPS, they will never be as colorful as my LPS frag tank. Between favias, blastos, chalices, etc, there are so many cool color morphs out there (and continue to come in). And they can be kept under basic lighting.
All of that being said, it is a great time to pick up SPS right now. There are deals abound. I almost want to start a new tank. For $400-500, I could stock the whole tank with beautiful frags that would've cost me over $2K a year or two ago. Crazy hobby but that's what I love about it.