The "trans/gay/lesbian is cool now" explanation doesn't hold a lot of water to me. If I had the choice to not be gay, I wouldn't be. Life would be so much easier, emotionally and otherwise. Sex would be lower risk and it would be much easier to find a romantic partner. I spent a long time - two decades - suppressing it, as hard as I could, and it did not go away. Instead I was anxious and depressed. After I started to accept myself, those things became a lot better. I look forward to the day I come out.
Transitioning is 100x harder. The nonconformity is obvious. The antagonism directed at transitioning people is unavoidable, strong and potentially deadly - violent and lethal attacks on trans people are becoming much more common every year. Compulsory sterilization for people legally transitioning is still mandated in many countries and was only abolished in progressive countries in the last few years.
No, nobody is doing any of this because it's "cool".