The web has evolved from a collection of hyperlinked documents in the 90s to a fully featured application platform in 2019. There's still a place for server side rendering. But it's for static content, not applications anymore. Practically everyone on the web now has a client capable of executing complex application code. As a result it has become incredibly simple for developers to build things out on the client that would have been impossible with the old paradigm. Not only does it make development faster, but it allows a much greater separation of concerns across the stack. Backends can now be completely agnostic of the presentation layer, which pays for itself many times over when you realize a given application may be running across native desktop, native mobile, mobile web, desktop web, TV OS's, game consoles, etc. Having to duplicate your business logic for these use cases would be terrible.
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The web has evolved from a collection of hyperlinked documents in the 90s to a fully featured application platform in 2019. There's still a place for server side rendering. But it's for static content, not applications anymore. Practically everyone on the web now has a client capable of executing complex application code. As a result it has become incredibly simple for developers to build things out on the client that would have been impossible with the old paradigm. Not only does it make development faster, but it allows a much greater separation of concerns across the stack. Backends can now be completely agnostic of the presentation layer, which pays for itself many times over when you realize a given application may be running across native desktop, native mobile, mobile web, desktop web, TV OS's, game consoles, etc. Having to duplicate your business logic for these use cases would be terrible.