Well it varies from country to country, and sometimes even from city to city.
I haven't seen a lot of them on the streets, personally, and they are still in shops, though they're not everywhere anymore.
They keep you warm exactly where you need it and some suit the victoriana feel we'll have this fall, so I guess they can still be OK when one doesn't overdo them.
But I agree with Reba : they have to be knitted or well tailored so that they don't cut too much the silhouette; the ones that look like regular jackets, just cropped, are often silly looking and very hard to pull off.