Maybe this is a telling indication on myself, but the pictures in your first link look significantly stranger and off than the picture in the onion article, text aside.

Formal wear has basically evolved into a costume that is used for specific events (weddings, funerals, and the like). It's hard to imagine someone dressing like that every day, with the complicated layers of nonfunctional and expensive items. Maybe that was the point.

Casual wear has largely evolved into clothing easier to mass produce and fit close-enough off a shelf. Paired with a general decrease in cost and clothing is less of an investment than it once was.