From my own experience, I can see that the results are real, but they're not magical or anything. When you eat only during certain hours, it's genuinely harder to snack randomly or eat extra stuff just because you feel like it - you simply have less time for it. Plus a lot of people notice that during their eating window they eat more mindfully - they're not just grabbing whatever's in front of them. But this only works if you're overall staying within your calorie target. If you cram in over 8 hours what you used to eat all day, you're not going to lose weight.
Whether it's trendy or not - doesn't matter. What matters more is how you feel on a 16/8 schedule. For some people it's perfect, others, like in the previous answers, end up starving and give in. I know people who find it really hard to skip breakfast - they get irritable and unfocused. Other people actually like skipping breakfast; it makes their day simpler.
If you want to try it honestly - stick with it for two or three weeks, pay attention to how you feel. If you feel okay, you're not binging on the fridge at night, and your weight is going down - keep going. If you're constantly angry and exhausted, then this approach just isn't for you, and that's fine. There are tons of other ways to lose weight.