Hmm. To answer the OP's original question. Nope, I don't think bachata will ever reach the ranks of Tango. It may have started in the whore houses of Bs. As. but ended up becoming a classic for the rich, and all classes really. It's more of a ritual, people will be dressed up to the nines, and everything is very cordial and "classy". The moves are much more complicated, you need more than a lesson to get the basics down without stepping on your partners feet. It has well over 100 years history, and well it's starting to fade - not too many young people are into (in Arg. or Uru), there's a few, but it probably won't see many new singers or dancers, or grow in popularity. Bachata on the other hand, well, sorry, but musically, lyrically, dance-wise, and class-wise does not match up. It can be fun, but is not in the same league as Tango.
Personally I don't mind some bachatas, the dirty ones. But I can't stand TopoLlillo y los aventureros (Aventura), the guys voice drives me up the wall! In Ottawa I can't say that it's very popular (hardly anyone stays on the floor for it), I think they play bachata to clear the dancefloor and get people to buy drinks - as the latin crowd tends to dance more than drink.