I'm a self-proclaimed "audiophile" but not in the annoying, trust-my-ears-only way that plagues the hobby (I'm a scientist, dammit). I have a nice tube amp, great speakers, subwoofer, etc.... and I have a turntable as well (and a network enabled player + nice DAC). Anyhoo.... I can speak to the non-hipster side of things. Yes, some of the growth of vinyl has a faddish aspect to it. But, keep in mind, many musicphiles and audiophiles never stopped collecting and buying vinyl even through the meteoric rise of CD.
If you are a major music fan (and do not have an unlimited supply of pirated needledrops on the internet), a turntable is essential. A lot of obscure stuff was never released on CD. A lot of stuff that was released from the past on CD sounded (and continues to sound) dreadful due to the mad scramble to ride the CD wave; nth generation tapes, some equalized for vinyl, were used as the source material. Thankfully a lot of stuff these days that is selling is remastered versions of old stuff from original master tapes (not copies). You can be cyincal about this (say the major labels are just milking old warhorses) and you can also acknowledge that the digital audio technology has increased astoundingly since the late 80s and 90s. What does this have to do with vinyl? Well, vinyl can sound really good if done well. I won't argue that it is a better medium than digital; it simply isn't. But it has its own charms.
I have bought vinyl reissues that were mastered very well, and the vinyl was quiet, lacking surface noise - but about a third of the time I get burned with either lousy mastering (sibilance and related issues - and I have a very good microline cart) or more commonly, ticks and pops in shrinkwrapped new vinyl (and run through a we clean). This is the way it has always been and will always be with vinyl.
A primary motivation I have for buying new vinyl releases of new music is to acquire recordings that haven't been as dynamically squashed in the digital mastering process. While vinyl releases can be very dynamically compressed as well, as a rule, vinyl releases tend to be mastered with more dynamic range than the digital version (you could argue that this is partly, or mostly due, to physical limitations of the vinyl medium). And yes, I acknowledge that most vinyl is either digitally sourced or goes through an ADA conversion.
But mostly I continue to buy vinyl because it's fun - it's part of a hobby I enjoy very much. Spending hours just sitting "in the sweet spot" and listening to music (from any source - digital, tape, vinyl or whatever) is something I enjoy. So while people scoff at the vinyl "revival" I'm just glad to see there are more choices our there for getting good sounding music.