Since I have no experience with BJJ as an overhyped MA (except for the internet, which I thank fully don't let control my daily life :P ) I voted no. BJJ has established itself all over the world perhaps because of a fad, but I don't think I should be so quick to label popularity a fad.
Why? Because I define it more like a fad is something that is extremely overrated and people without regard to their own capacity or their own knowledge of the "fad" itself keep joining. On second thought, if what I knew out there about clubs, was instead.. the internet.. then.. Well, let me say it like this. I think BJJ has an internet fad, to be quite honest. But I otherwise think that the system of BJJ is here to stay. And that it really isn't a fad.
Somehow I think I reasoned why I think what I do :P