I think the trend of removing "artistic" elements from products has been continuing for literally centuries; e.g. if you look at industrial machinery, 18th and 19th century designs are extraordinarily ornate even compared to early 20th, which are themselves far more artistic than late 20th and 21st century machines.
Don't hold up for furniture, though.
You pay a premium for mid-century furniture. Even reproductions. Some furniture of that era never stopped production because the design keeps it in demand.
There will always be a market for bland IKEA/Target/whatever. But not everyone wants to sit on a log like a caveman.