It is still holding true in my opinion. The generation that likes minimalism is still a big part of the active web. What drives it in part is Google's pressure on webmasters and designers to prioritize user experience.
When you look at what guys are doing on places like Figma however you will see some crazy stuff, so I feel like creatives especially the younger ones do want to break out of minimalism. It will be up to them however to do it in such a way that consumers like it, and if consumers like it, Google will change their tone about it.
The other major consideration is technology. Phones were a lot slower and had less RAM, CPU, the internet was slower and so demanding designs would bog phones down, this is also a part of my minimalism so popular, however, phones now have more RAM, CPU, faster connections and so they can handle things that would usually make the website laggy and slow...
IF I had to take a guess I feel like animation and bold colors are going to be the next thing. Remember trends run in cycles.
I do believe it will change happen I think it is still a few years away and it will be gradual but nothing stays the same forever.