My last house had artex ceilings everywhere. Very heavy, thick, ugly Artex a lot of it -and this was continued on the walls down to the picture rail.
Back in 2006 I had the entire ground floor, Kitchen, hallway, through lounge all skimmed over to give me matt flat ceilings. The long galley kitchen, over the years had several alterations and this had left its ceilings with about four different height areas. This was also sorted out at the same time, and the amount of extra light those flat ceilings reflected was amazing.
The company I employed did a magnificent job, firstly they did check to ensure there was no asbstetos there. I can remember that it cost me about a thousand pounds for this job back then, but well worth it. Left the upstairs bedrooms ceilings with their light artex.
Couple of years ago I asked the same company for a quote for one of the bedrooms ceilings and they told me that they no longer did this 'skimming' as they had found that it often caused later problems. They wanted either to take that ceiling down and replace, or else put up boards below the existing ceiling - as this would have proved very pricey for a spare bedroom ceiling I did not go ahead.
The flat that I recently moved to has very lightly artexed ceilings throughout. When I purchased it, one of the certificates I received was one saying the block of flats was Asbestos free.
Must say, they do not worry me and as they have all been painted with normal ceiling paint seem t reflect as much light as a flat one. Do not think I will go to the expense of having them altered when I get around to arranging new decoration here.
As has been said, probably will come back into fashion pretty soon.