I think it depends more on circumstances before you get to $100k. If I had parents who paid for school I'd probably be living it up too.
I often wonder if it's just people who have a different concept of what is a necessity vs a luxury due to never having to go without for a significant part of their lives, or people who have just never lived outside of the cities or other expensive areas.
In my case, I lived on the lower end of the income spectrum for much of my childhood, and lived even poorer while building my startup in a low-cost area. So it is with deep experience and sincerity that I say I have no desire ever to repeat those years, nor to inflict such a life on any future young humans.
Ways in which it's not life changing: probably have to live in a more expensive area, which eats into the benefit. Still have to play the office game with people you may or may not like. Still have to save up and budget if you want to travel. You won't live in a mansion with a full-time staff. You still won't have enough money to trade money for popularity if popularity is something you lack and want.
Ways it is life changing: can afford more nutritious and more enjoyable food, which helps make life more sustainable. Can provide better food/clothes/schooling for any children (I have none of my own), which gives them an advantage when they reach adulthood. Can live two or three emergencies away from devastation instead of just one.