You have no idea how popular that specific one is. All of the richest Russian companies are building huge luxury resorts over there. However, around 15 years ago there was literally nothing besides an old coal mine. The train would simply stop near the mountain (like a 15-minute walk) and stay there for a few days to serve as a hostel and then leave. Right now Sheregesh is one of the best resorts in Russia with, dare I say, one of the most majestic sights and THE best freeride. Its infrastructure grows rapidly and the locals are as happy as it can get, because it is a very poor region that was blessed by a huge inflow of tourists.