hipster fad? double edge safety razors have been around since at least 1930. not really a 'fad' ;)
they normally provide a better/closer shave, much much cheaper blades (compared to gillette), greater selection of blades/razors. there are probably more advantages.
I'm quite aware that these kinds of razors were once commonplace. It is their [expensive] comeback that is noteworthy, and what I've dubbed a 'hipster fad'