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Yes, it is probably not the most correct term. However, I think when people realize the cost of making an App and then realize that chances are they aren't going to make millions, less will want to invest in app development, thus popping the "lets make an app" bubble.

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I thought that bubble had come and gone. About five years ago I was talking to a group of friends looking to do a side project for money, and the consensus was there's no money in mobile apps beyond the "struck by lightning" stuff like Minecraft and Angry Birds.

I am still approached on almost a weekly basis to help someone build the next "killer app".

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