I've been hoping it was just getting started. I expected someone here to create an app that makes it super easy to find good and cheap food from the nearest food truck.
Food trucks don't really seem like a bubble to me-- they're more of an end-run around restrictive zoning that makes it hard to start a restaurant in a building.
Food trucks are here to stay. In NYC, at least, it's the cheapest, fastest, and easiest way to get lunch. There's a true structural advantage (much much lower fixed overhead)
The advantage of food trucks is that they are more of a real-estate trend rather than a specific food type or cuisine. Therefore, the limit is more capped by the overall demand for fast food / street food, rather than any "trend".
Food trucks are here to stay, but they're no longer the cool new thing so most of the buzz has died down. The trucks that are still around now will probably still be here around for the next few years.
Here in Long Beach, CA they lasted about a year. As things stand, the website of the most popular food truck group is 8 months out of date, which leads me to believe that they (finally) went out of business.
The good news is "Food Truck Tuesday" on a road near where I work has about a dozen trucks and thats been stable for years. Sales are intensely weather dependent, or maybe rephrased hungry people are much more weather sensitive than walking exerciser-type people like me. If the weather's awful sometimes it'll just be me doing my daily mile and the trucks out there and no one else.
The bad news is thanks to the food network, five of the ten trucks are now korean bbq (which does admittedly taste awesome) and all of them think $10 to $15 for a small amount of food is a fair price because thats what they charged on the great food truck race while in NYC so... When I walk over and splurge $15 for a little entree I always feel weird getting there by walking past perfectly good brick and mortar restaurants where I'd get more food for like $8 worst case.