Exactly. The history of NN is full of ups and downs and it's becoming increasingly popular again the form of Deep Learning thanks to increasing cloud processing power and advancements by Hinton and others. Most to of the traditional criticism of NN is related to shallow nets. But deeper and far more complex structures like those in the animal brains are not explored enough.

The next quantum leap is expected with the introduction of more specialized hardware such as neuromorphic chips: http://www.technologyreview.com/view/428235/intel-reveals-ne...

http://www.youtube.com/watch?v=pPk42xyNpSA