Yes, that’s true, but it’s not just popular now, it’s been popular for a relatively long time.
If you go to create such a site for your product, then I would recommend that you go to the experts.
If you yourself are confident in your abilities but would like to understand all the intricacies yourself, then I would recommend that you read this article https://www.codica.com/blog/how-to-build-a-website-like-yelp/ .
It says a lot about statistics, the customer’s point of view on it, the view of the business, and much more.
Personally, this article has helped me a lot to understand the basic details.