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Two things seem to play into this from a PvE perspective.
One is flat out performance (most obvious with DDs since you can compare parses more easily). If you can do more damage, more buffing, survive more easily etc. on one class than another because of class specific skills or passives, lots of people will swap to try to help themselves or their group perform better.
The second is playability, which is a mix of whether people enjoy the playstyle (see things like DKs having to keep up Stagger or Templars being tied to channeled spammables) and whether any current bugs interfere with effectiveness (see Warden bears not being able to hit dragons when people are in vSS).
I have played a Templar on my main and a number of alts since I began to play ESO. I probably have spent more time with Templar characters than with any other class. I use sets that others ignore and yet I am able to solo group dungeons in PVE and and more or less survive in PVP with the class. I think it comes down to not what someone else says is the best class as much as which class do you feel an affinity for and are most comfortable with.