IMO, this is rather irrelevant to the op, but is something I've thought every time I've seen one. It's a small, iconic headstock onto which Leo knew well enough to ought to have stuck just a classy pair of "M"s out on the hook and "StingRay" near the nut. The big Ern should've just stuck EB in the serial numbers. Four word brand name? Dumb. It's not a multi-partner law or engineering firm. StingRay by Ernie, Ball, Music & Man Instruments LLC. Sheesh. It is so cluttered that covering the body in stickers is rather balancing.
Anyways, I think that they seem less popular now relative to '90-05 only due to the near absence of Fenders, Gibsons, and other 60's gear on stages and videos in those days. Back then, outside of punk rock, it seemed it was either a Ray, or some unobtanium coffee table thing until Laklands started popping up.
Rics seemed mythological. We just never saw them outside of 70's concert footage. Them dealing with GC has changed that a ton.
Fenders seemed as well built as Ibanezes while priced 1.5-2x as much.
Now Fenders are built pretty well, and Rics show up in almost every GC at least a few times a year.