I think it has died down a little. Like voicerocker said, everyone who was anyone had the cards and the games and the merchandise. Now it seems the only people who do are the ones who grew up with it in the first place. All of my younger relatives think I'm weird for loving Pokemon like I do, thinking it's only for little kids, but they don't even like it themselves.
My opinion is, it's more popular around teens/adults who grew up with it and had Pokemon in their childhood.