(Some physicists told me about how quickly Ken Wilson's application of RG to phase transitions went from the the next big thing to old hat, for instance.)
When I can bear to read editorials in CACM I see the CS profession has long been bothered by whipsawing demand for undergraduate CS degrees. I've never heard about serious employment problems for CS PhDs and maybe I never will because they have a path to industry that saves face better than the paths for physics.
Maybe we will hear about a bust this time. As a cog in the social sciences department, I used to have a view of a baseball diamond out my office window but now there is a construction site for a new building to house the computer science, information science and "statistics and data science" departments which are bulging in undergraduate enrollment.
Will there finally be a bust?