I don't think it's a fad and
I don't think we "failed to recognize it."
Pheromones are still largely experimental and most of our
information about them comes from others' experiences and a limited amount of scientific research. When people set
off to try pheromones, I'm sure the motivation was to make women (and men) instantly attracted to the wearer.
Since then, most people have realized that pheromones cause a wide range of personality changes that go far beyond
the "instant attraction" that was the original goal.
That being said, many people continue to use -none-based
products and continue to.
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