> they will finally get the respect they deserve.

I believe this is a big part of it. With the rise of corporations and media, we have seen a loss of any sort of public commons. A consequence of that is that I think many people here in the US don't feel like they are part of a community. They don't feel seen by any sort of meaningful tribe, outside of their job, which is transactional and subject to the whims of corporate overlords.

So much pathological behavior in society today makes sense when seen through the lens of "this is a person who feels isolated screaming out for any kind of acknowledgement of their existence".

In addition to these reasons, there is the economic side. They're spending money on frivolous but attainable luxury items because the traditional economic path of a house and family seems impossibly out of reach.

You can save for 6 months to buy a car mod for 1500, but when local median house price is $1,000,000 they may feel like it's pointless to even attempt being a home owner.