I do think that branding is also a factor. I remember once reading something saying that that people who get married and have kids and need a family vehicle don't like driving what their parents drive, that it'd be boring and stodgy. So avoiding the station wagon that their parents drove, the next generation drove minivans. The next generation avoided their parents' minivan, and drove SUVs. The next generation avoided SUVs and drove hatchback CUVs.

They all kinda fill the same role, as a large enclosed vehicle with a fair bit of cargo space accessible via a rear door.

Here's a generation-old article from when SUVs were the hot item on the way in:

https://www.chiefmarketer.com/are-we-there-yet-minivan-marketing-is-driven-by-the-changing-needs-of-american-families/

For a period starting in the early 1980s, when Chrysler couldn’t make enough Caravans and Voyagers, the minivan was a suburban status symbol. Baby Boomers claimed it as their preferred mode of family transportation, replacing the stalwart station wagon that had dominated for decades. Nearly every auto maker added a minivan to its line, and the category topped the auto sales charts throughout most of the ’90s.

Times have changed. Boomer offspring have grown up and out of their car seats and started driving their own cars. More and more moms, notably those from the older end of Generation X, are working. Sport-utility vehicles (SUVs) are all the rage in suburbia, with many a maturing mom abandoning her minivan, opting for liberating style over utilitarian substance. Along the way, the minivan has developed a stigma, and now brands its owner as pragmatic and sensible – not to mention a little bit square.

“Minivans are out of favor,” says Gordon Wangers, managing partner of Automotive Marketing Consultants Inc., Vista, CA. “Many former minivan moms wouldn’t be caught dead in a minivan [now]. They want an SUV. It’s a major trend that will not go away.”