There are numerous articles talking about how the population has become taller. In 1970, the average American adult male was about 5'8" tall and today, younger adult males average around 5'10" tall.
But, our legs seem to be shrinking. The most popular "mid-price" road bike in American in 1972 was the Schwinn Continental. It came in sizes 22, 24, and 26. The 24 was the "best-selling" size. Schwinn seems to have included the seat clamp in its measurements, so deducting the seat clamp, those sizes were actually about 54, 59, and 64. Schwinn's more expensive "Sports Tourer" and "Super Sport" likewise featured the size 24 (59) as the "medium" size that was sold to the majority of riders.
So, how is it that in 1972, average guys of around 5'8" or so were buying and riding size 59 road bikes, and today, average guys of around 5'10" are posting to say they ride a size 52, 54, or 56? Have Americans gotting taller, yet their legs and arms are getting shorter? Or, are today's riders trying to pose as "Saturday" racers, buying tiny little bikes that enable them to ride with their noses down by the stem, and their hands four inches lower than their saddles?
If you ride for enjoyment, pleasure, or commute to work surrounded by motor vehicles, you are better off riding with your hands as high, or higher than the top of your saddle. A guy who is 5'10" can set up a size 59 or size 60 bike with the bars as high as the top of the saddle. But, on a size 54 bike, his hands are likely to end up at least two inches too low. He will look cool. He will look fast. And, in a couple of hours, his neck will hurt like heck.