Boost is high-risk high-reward
Now, the "risk" in this case is actually not too high. It's not going to kill you or anything but it's still quite risky compared to the more reliable Dupe.
Typically high-risk high-reward options are popular for a while because the reward is quite lucrative. However, also typically once people get enough failures, the high-risk is factored as "not worth it" in the popular opinion.
Think of the lottery and how many people used to play. They did it because - "Hey, I could win the jackpot". After a while they stop and the rationalisation is along the lines of "I could just spend my money on something worthwhile". So, overall lower-risk avenues are preferred. Or at least different high-risks - "I can't seem to win the lottery but sports betting is much easier".
That's not to say that nobody would pursue high risks. Again, the existence of the lottery, and gambling in general, is proof that some people do like it. But in a lot of cases, it's not exactly the reward they are after, they become addicted to the thrill of potentially winning. It can have a powerful draw by itself.
At any rate, just judging on how people in this world react to risk systems, it seems perfectly natural that Boost will be "the next best thing" for a time but gradually it will be used less and less. It will likely not fall into obscurity unless there are severe drawbacks but people will prefer other avenues to increase the effects of their magic. Some would go for more moderate risks or might choose a different (newer) high-risk high-reward option. Dedicated Boost users would remain forever. Some might even get addicted to the energetic effect it has on themselves. Others might like how it improves their magic. However, they would be less than the initial popularity boom and the Boost users would likely stabilise over time.
Finally, as a personal anecdote:
user becomes hyperactive and energetic for a brief period of time, user needs to remain focused at all time otherwise the boost will be lost and the time is wasted.
This describes me in my university years. I'd want to finish so much work, that I'd devote myself to pulling all-nighters and depriving myself of sleep. To do so, I'd consume a lot of caffeine and energy drinks (ironically, one such drink was called Boost) that would leave me hyperactive and energetic. I'd also need to remain focused else I might literally just fall asleep even while doing something and wake up after, say, 12 hours wasting time I could have spent doing more work or studying. In some cases, I could have even missed a submission time.
This is not too dissimilar to the Boost mechanics, I feel. Even if the effects are that of the Dupe. The thing is that with Dupe, you have reliable system in place. Or more reliable, at least. If I could have made my work or study more effective at the cost of guaranteed need for a nap, I would have done it. But sleep deprivation comes with a lot of unreliability to it. After 24 hours you may feel "fine" (for now) or you might feel quite tired. After 48 you might feel "fine" as in not sleepy but your brain just refuses to work and you stare at a page of text as if it's written in Klingon. And if you do go to sleep, you might wake up after 10 hours or 20. Alarms might fail to be effective, either - I've slept through more than my fair share of them.
This seemed worth it at the time. Nowadays, I wouldn't subject myself. I'd pay money to avoid it. The reward of sleep deprivation could be good, but I don't believe it's worth it any more.