Starcatcher was the most visible of this aesthetic- but it has been happening for several years (see Fiasco's own production of Cymbeline, smaller companies like Pigiron, even something like Doyle's Sweeney Todd)
It's born of necessity due to the economic downturn. There is a pushback after decades of grandeur; the grandeur is no longer reliably viable and there are other effective means to stage work.
The story theatre/do-it-yourself aesthetic isn't just a fad in a theatrical and economic climate in which recognizable properties and names are the horses producers will bet on.
"...everyone finally shut up, and the audience could enjoy the beginning of the Anatevka Pogram in peace."