My sense of the genre is that it was an attempt to copy Eastern Bloc architecture by architects who were warmly disposed to the Eastern Bloc, and had either disabused themselves or wanted to disabuse us of bourgeois notions of aesthetics and good taste.
IMO, although it has definitely improved over the last 40-50 years, architecture peaked aesthetically circa the turn of the 20th century (Art Nouveau[0], Gaudí).
[0] https://www.google.com/search?q=art+nouveau+architecture&tbm...