The look became a bit of a fad after some TV shows started recording using DSLRs and incorporating the effect. It takes big, expensive lenses to do well, so the public was convinced it was a "professional" look. I do agree with you for the most part, it's a look that has its place in a small percentage of of shots. But this cheap second-rate imitation is going to be abused to death and a flash-in-the-pan fad. When every trashy photo uses it, the "professional" reputation isn't going to last.
You need two cameras because there is parallax information between the two images that can be used to judge depth and isolate the foreground from the background.
LOL
Shallow depth of field has been around much longer than television has even existed! And television (and movie) cameras have certainly had the ability to do shallow depth of field for far longer than before any of them started using DSLRs for shooting.
It is not a "gimmick" or a "fad". It's a photographic _technique_ that, when used properly, can enhance the artistry of a photograph.
Most commonly it can be used to isolate a subject. This can obviously be used to call attention to the subject and, naturally, bring the viewers eye to the subject. It can also be used in many more subtle ways like giving a _feeling_ of isolation to the viewer or even a feeling of dread by obfuscating some foreboding presence in the background.
Photography is NOT just about "capturing a scene". It's about creating art. And just as painters have many techniques for conveying emotion/mood/feeling or emphasizing a subject, etc. so do photographers.
A short depth of field is just one of those techniques. It will continue to be used (and I'm sure, at times, abused) by anyone creating art with a lens and sensor.
Personally, I'm happy to have this option on the device in my pocket.
Just because I don't have my huge camera with me... doesnt mean that I don't see things that I want to capture artistically... and, if it would enhance the photo, it's nice to have the option of a "short depth of field".