Decentralization isn't really a fad. It's been a popular belief for decades. It seems that just as one corporation struggles to recover from decentralization, another is giving it a try. Most companies have some degree of decentralization. In staff areas, the typical configuration is a corporate function plus lots of little splinter groups.
Decentralization is quite common in line areas as well.
But generally the number of fragments is limited to a few major divisions or business units. The pros and cons of decentralization apply to companies of all sizes. Size doesn't change the fundamental trade-offs. But as soon as corporations diversify, the issue comes up. It happens both ways.