In my experience, the Gartner hype-cycle only looks that way for a subclass of things, and SL doesn't seem to be in that subclass, so the hype-cycle graph is inapplicable. Instead, you'll find that there's more of an variable sinusoidal that involves hype peaks 3-9 months apart. It's sort of what you get if you overlay a number of offset versions of Gartner's curve, one for each demographic.

There was never a single hype peak or trough for SL. There were multiple. Still are, though the amplitude is a bit lower.