There's a kind of inverted bell curve to vinyl...
In the beginning, sides were quite short, the vinyl was very heavy and the bass compression could be reduced and it would still fit and not distort. Starting from the mid-70s and the oil crisis vinyl got thinner and there is a distinctly noticeable change in bass quality until we get to the nadir in the 80s (and I'm sure part of this was record companies producing crap quality LPs to convince people that CD was better) when the records were being pressed onto something that was the same thickness as an Airfix kit! As vinyl resurfaced in the noughties and we got audiophile pressings on heavyweight vinyl with CD running times split over 4 sides so the quality of the reproduction has gone up again; bass particularly.
And I do think there is something lacking in CDs against vinyl. I have had Sound of Contact's Dimensionaut on CD for a while now and it's a good album. I listened to it for the first time on vinyl last night and it just sounds so much better (Linn Lp12 v Arcam CD82 (with CD92PSU/ DAC upgrade, both plugged into the same amp).
I am prepared to admit that the difference may be subjective, if you grew up listening to vinyl you think vinyl sounds better, and if you grew up listening to CD then it's CD you prefer. This doesn't explain hipsters, but it may be that's just because they've splashed out for decent kit to play the vinyl on rather than the £50 mini-system they listend to CDs on....
There are some fallacies in this discussion though! Vinyl does not degrade through repeated playing (unless you're careless enough to scratch it). I have a copy of Queen's Night at the Opera which I bought the week it was released. It still sounded gorgeous 30 years later, after being played, on average, at least once a fortnight, when I replaced it.... ...with the 30th anniversary remastered edition on 180g vinyl....