There's a backlash to the trivialization:

http://www.depressionisreal.org/

But there are a lot of people depressed, more than ever before both because there's more people in the world and the world is going harder and faster so we're more stressed (and liable to catch a "cold") but I think it's "contageous" to a certain degree too; people who grow up around a depressed person are more apt to be depressed, etc.

I'm glad I was depressed in the 1970s when it wasn't identified as often or "popular" in the media so I just lived through it, but don't feel any stigma or hype or confusion about it now, it just seemed like my "life" rather than something wrong with me. I didn't separate it from me and wonder when "it" was going to go away, etc. like it had a mind of its own. I was seeing my therapist part of the time who I then saw later when I was no longer depressed and it's interesting to me the difference in therapy.