What I love most about minimalism is the fact that it shows a lot of careful, well orchestrated decision and taste. No need for print, embellishment, lace and whatnot (that's entertainment, and there's absolutely nothing wrong with that).
I enjoy more elaborate looks but for my personal taste (something that I would wear), I definitely love the more 'simple' look. Minimalist clothing has a certain bold aesthetic that can't ever be emulated. I think it's a flattering look that anyone and everyone is capable of. But if it's done incorrectly, it will look horrible - but if it's done with enough care, it'll rival ANY look.
^ Your post reminded me of one of my favourite London shows of S/S 10.
Osman Yousefzada has always wanted to do an all-white collection, but it wasn't until his recent signing with an Italian licensee that he felt he could truly do the idea justice. As he pointed out, "White leaves you nothing to hide behind." Which makes it a perfectly pure canvas on which a designer can bare his essence, as Valentino and Rifat Ozbek's all-white collections did to spectacular reputation-making effect.
I am loving these photos, and I agree - it is starting to look like the best of the 90's.
However, I am pretty sure that classic design and minimalist style simply is stylish when done well - always has been. It's what creates an icon. Think of certain fashion giants who have, more or less, the same style that they had twenty, thirty years ago.
I feel like minimalism represents personal style more than anything else. Rather than relying on the garments, you rely on yourself and HOW you wear things. The same little black dress can either be stunning and sexy or boring depending on how someone wears it, or chooses to style it.