Color grading as a distinct craft emerged from photochemical timing (adjusting the printer lights during film printing) and became a software practice with digital intermediate processes in the early 2000s.
The "teal and orange" look that dominated 2010s blockbusters is a consequence of skin tones (orange) being complementary to teal — pushing these poles apart on the color wheel maximizes contrast while keeping skin tones readable.
The look became a meme, then a cliché, then a target. The reaction was a return to more naturalistic grading — though "naturalistic" is itself an aesthetic choice, not an absence of one.