On the topic at hand, there is certainly an argument that can be made that the .32 was for about 80 years the quintessential handgun caliber of the average American. Yes, the military was using .36 and .44 percussion revolvers which then turned into .38 and .45 revolvers, police very similar, but the farmer, factory worker, etc. at one time was most likely carrying or keeping a .32 in the nightstand for decades.
Of course the reason why is because back in the era of percussion guns the metals were poor compared to today, so making a repeating arm that could be comfortably carried was a challenge, which meant the smaller the caliber, the smaller the gun. Even in the 19th Century concealability was a major factor.
The .38 was popular in its day, there is no doubt about that, but I don't feel it reached a level of prominence above that of .32 until automobiles became widespread. Even then, more .32's came about to improve upon the power of .32 S&W or .32 Long rimfire, these would be .32 S&W Long and .32-20, both of which offered more to the everyman of the day than what .38 could. In the revolver the .32's held an extra round, in the rifle the .32-20 was a flat shooting game getter and I may be mistaken, but I don't think anyone ever made a rifle in .38 S&W.
So, the .32 had its place in Americana and even after the .38 supplanted it in popularity the .32 went on as Colt, S&W, H&R, Iver Johnson, and others continued to make revolvers in the caliber and .32 ACP autos.
IDK when .32 went from being second or third fiddle to other calibers to where it is now where it's largely written off as any serious caliber, I'd guess the 80s when the military moved to 9mm and the .32 H&R Magnum failed thanks to the shoddy quality of the H&R/NEF revolvers in the chambering. Is there potential .32 could rise in popularity again? I think so long as people educate themselves by researching excellent material like the Lucky Gunner video and we continue to inform naysayers and people continue to make quality videos or articles demonstrating what modern .32's can do, then yes I think it can.
Whether the industry decides to actually try to help support the caliber or just keep running off 9mm because it's a cash cow is another thing entirely. As it stands after 9mm the gun makers seems more interested in 5.7, however the ammo makers haven't been following and in the case of Federal decided to do .30 Super.
One thing is certain: the 5.7 is never going into a P365 type of pistol while .30 Super absolutely will and when the slim doublestacks like the 365 are what are selling, the demand for .30 Super will be higher than 5.7 will.
So maybe, just maybe the .32 is breathing new life. I don't think that will translate to revolvers, revolvers are losing popularity fast, but for autoloaders the .30 Super may not be be a thing in the 2020's, but could find itself roaring come the 2030s.
Hell, Taurus should make a .30 Super with that name: Roaring 30.
