I think the technology is driving the boom. Newer machines, rotary cutters, great fabrics, faster ways of making things.
It amazes me how much time and money is spent on this hobby. I think it is great. The innovations seem to be coming daily.
I dropped out of quilting for about 10 years when I hit a technical wall where the stuff just wasn't there to do what I wanted to do from a creative aspect. Now it is all here. From the stabilizers, threads, etc, that allow you to do almost anything you want with a "quilt".