I think certain renovations are a reflection of changing family habits. My early '50's ranch is probably close to being in the trendy mid-mod style, but the kitchen is tiny and there's no space for a kitchen table, just the formal separate dining table. I think as times have changed the kitchen has become more of a gathering place for friends and family. I'd love to remodel to open up the kitchen space but it's just not practical and it's something you get used to. On the other hand I have coved ceilings, built in cabinets and a built in bookshelf, arched doorways, and a fireplace with a wood stove insert. Things you don't usually get with new construction.
I actually had to look up the magnolia effect. It seems like there are some remodeling changes that make a place more comfortable. Bungalows are traditionally dark inside, mid-century modern homes likely have small kitchens and baths, not to mention poor insulation and inefficient windows. However the design trends I really object to are the sprawling new homes built just a few feet from one another.