I don't think anyone is comparing to old monarchies or etc, they're mentally comparing it to the 1950s and 60s and the postwar economic boom times.

You can point out that things weren't as good as they're presented back then either, or that people are falling for advertising, but no one is really impressed that their living standard is better than the 1800s or earlier.

People should be impressed. We're doing a terrible job of teaching history. "Everything is amazing right now and nobody is happy."