Hi, I understand what you are trying to say here, but please consider investigating the world of apparel a little more deeply before making comments like this. H&M and similar fast-fashion companies are deeply involved in practices like blatant, continued design piracy from both famous and small, independent designers; as well as unsafe and exploitative labour practices, including in third-world countries. In addition, the clothes these stores produce are not very high quality and tend to degrade quickly, making them only useful for staying up-to-date with trends pioneered by the designers fast fashion brands mimic.
Ethically designed and manufactured clothing that is of good value (ie lasts long) costs money to produce. $300 for a pair of jeans is very high, yes, but H&M is not the alternative I would recommend. I would also say that many people "with style" can easily and in fact viscerally tell the difference between a pair of H&M jeans and a higher-quality pair, and would not balk at paying that price for a piece of clothing, especially for a wardrobe staple like jeans. It is not a "nouveau riche" affectation as much as an appreciation for artistic vision, design, and craftsmanship. Of course personal income is a factor here and I'm not suggesting everyone should be paying that much for all the clothing they own.
If you're interested in learning more about these topics, I recommend reading publications like WWD, The Business of Fashion, or The Fashion Law (though I am not vouching for their reporting and editorial stances in all cases). Consumer awareness of the nature of fast fashion is the only way I see for the fashion industry to move forward from these issues.