Ok kids, way back in the 1980s high capacity semi automatic pistols in 9x19 were making inroads with military and police forces across the globe. The civilian market soon followed with the introduction of the plastic fantastic Glock. Heck, the US Army even went with an aluminum framed Italian pistol holding 15 rounds in the magazine.
The 1911 is dead, right? The new pistols of the future are firmly displacing John Moses Browning's service pistol for good. Hollowpoint bullets are on the market, it looks like the europellet is going to replace the 45.
For a while it looked that way, and then came the 1994 AWB, which limited new pistols sold to a 10 round magazine ("Clinton Clips" as they were called....) and suddenly having 8 rounds of 45 ACP in a semi auto pistol looked a lot more sensible. After all, if you have to choose between 10+1 of 9x19 and 8+1 of 45 ACP the old warhorse doesn't seem so bad.
So the 1911 enjoyed a bit of a popularity lift due to artificially constrained market forces, and next thing you know there are a whole bunch of crap manufacturers cranking out 1911s that jam like crazy. So the plastic guns get a reputation for "teh ultim8" in reliability (when in truth all guns fail, some just more spectacularly than others).
As a result of all thise, the 1911 market is still saturated because no one holds the patent on the design. You and I could start cranking out 1911s in any machine shop that had a CNC milling machine, bench vise, file and stone set. This is not a complicated gun to manufacture, but like any JMB design, requires some hand fitting to run perfectly.
Eventually the AWB sunsets like all crappy legislation should, and 1911s coast on popularity for a bit longer (being the worlds longest serving Service Pistol does mean something after all, what that is exactly I couldn't tell you). Now those who got into shooting in the AWB are ditching the 1911 and going back to plastic guns. There is nothing wrong with that.
Nor is there anything wrong with the 1911 design, it is a big steel pistol that handles 45 ACP better recoil wise than many of those plastic guns handle 9x19. The 1911 is a great beginners gun since is really is a pussycat and as Tam said "stupid easy to shoot well." Tam went back to a plastic pistol, nothing wrong with that. My next pistol will not be a 1911, likely it will be a compact 9x19 of some sort.
Will the 1911 enjoy a second resurgence some time in the future? Who knows, nobody I knew back then would have predicted the rise from the ashes of the 45-70. Of course old tech is proven tech. The Garand is a mechanical monstrosity that still puts serious lead downrange, the same can be said for the 1911. In the end a flying chunk of copper and lead doesn't care one whit about the launching platform.