In the '50s everyone was obsessed with brand new TECHICOLOR. Meanwhile the movies were nothing, just throwaways (of course that was also because of the Communist witch hunt getting rid of half the artists, but that's another story!).
Not to be nitpicky, lol, but Technicolor really took off in the 1930s (although there are silent films from the 'teens and twenties that used a primitive form of what would eventually become Technicolor).
The big movie crazes of the 1950s were Cinemascope (widescreen pictures) and 3-D. Both of these were in response to the ever-growing television boom, in which motion picture studios and exhibitors were very concerned that people would rather stay home and get their entertainment for free, rather than go out to the movies. Cinemascope promised larger-than-life images with a cast of thousands, and 3-D had the images on screen seemingly coming right at you.
While some early Cinemascope movies are forgotten today, I think 3-D movies suffered much more over time. As you say, Heralde, most of these movies were throwaways, and are sort of annoying when viewed today (without the benefit of 3-D), when you see images constantly being hurled at the screen. There are probably only a handful of 3-D films that stand out today, because they were made with extra creativity, and don't overdo it with gimmicky, obvious tricks.
House of Wax, Creature from the Black Lagoon and
Phantom of the Rue Morgue (an interesting adaptation of Poe's "Murders in the Rue Morgue") can still be enjoyed. Probably the highest-profile filmmaker to attempt 3D was Alfred Hitchcock, whose
Dial M for Murder utilized the gimmick, but very subtely, and only when absolutely necessary (the attempted murder of Grace Kelly and a pair of vicious-looking scissors is probably the most 3-D-like scene). But a great majority of 3-D films were cheaply made and shot quickly. They are mostly forgotten today. There were even a couple of Shemp-era Three Stooges shorts made for 3-D.
But yeah, I agree that the obsession with new technology is causing a creative slump.