Learn English – What does the phrase “What’s your bag?” mean

the relevant definition from m-w.com is:

(noun)
2 e: speculative or excited talk or attention relating especially to a new or forthcoming product or event <one of the few new shows that's getting good buzz — TV Guide>; also : an instance of such talk or attention <their first CD created a huge buzz>

So "what's the buzz about X?" is essentially asking "what are people saying about X?", or perhaps "how does the general public perceive X?"

Just to add to the comment by Joe, as a young American, I hear "What are you into?" as

• What are your hobbies?

• What vices do you indulge in? (this may have sexual innuendo depending upon context)

• What are you doing right now in your profession/career/studies. ("I'm learning philosophy.", "Oh, what are you into?", "Well, ethics, mainly." ...)

A related colloquialism is "what are you up to?" which means "what have you been doing recently?".