Multitools have been around for a long time and even before Tim Leatherman came out with original PST the multitool had a purpose; it was a pocket tool box. For years companies have made multitools a jack of all trades and cram as much as they could into a tool so someone didn't have to go back to the tool box unless they really needed too. That's the reason we love multitools, they are our constant companion that can tackle any task.
Things have changed over the past few years and there is a trend developing to meet a niche or demand in the tool market. Companies are releasing minimalist style tools that feature a basic set of tools and leaving out stuff that they feel a person would not use on a daily basis. I'm not sure if the design changes are because of culture or city/urban life but they they seem to be a hit with people concerned with needing a multitool no matter what their profession.