The whole sneaker culture has a lot of nostalgia built into it. It’s actually a huge part. Buying shoes you couldn’t get when you were younger, shoes you missed out on, shoes you had and either outgrew or wore to death. That part of the culture will never disappear, those are the real sneaker heads.
I do see people wearing sneakers again, it’s part of the cycle. The retro’ing of old sneakers has grown tired, that’s why you are seeing people excited for the Fly Knits, Lunar Gatos, Roshe Runners, and the OMS stuff. It’s something new and exciting. Back in the days, before there was a term “sneaker head,” kids wore whatever was fresh. It didn’t matter what category it was in, basketball, running, tennis, etc. It is was fresh, you wore it. Kids who rocked the Tech Challenges didn’t need to play tennis. That was sort of lost when retro’ing sneakers became the thing. But with that somewhat dead, kids are looking again to all the other categories for the fresh shit. To me that’s exciting. Not everyone is wearing an Air Force 1.