You can always have too much of a good thing. Drinking water is essential to, ya know, the whole surviving thing, but if you drink too much, you can "overhydrate" and die. Bruce Lee famously said that "simplicity is the key to brilliance." But with too much simplicity, you get the modern wave of logo designs.
If you haven't been paying attention, logos have gotten simpler and simpler over time. And the trend isn't confined to one industry either. The wave of reducing logos to their designs' barest and most essential aspects has hit every sector equally. The next logical question becomes, "what's up with that?"
In the video linked above, Bloomberg Quicktake's YouTube channel explains why so many companies are looking to "debrand" and simplify their classic designs. Like the cause of all awful things in modern society, social media is the primary culprit behind the shift to simplicity.