I think that's exactly it. You can choose to not buy into the social media hype around new products, services, whatever, and just abstain. Premium mediocrity is just another spin on consumerism and materialism that has plagued the US for decades. Ignore it all, buy for quality or used, make your own damn coffee, grow some vegetables, cook at home - common sense things that have been advisable for longer than the consumerist attitude. Life can be enjoyable and on a steady path to retirement with patience, frugality, and perseverance, barring the unfortunate events which are also part of life.
I reject premium mediocrity in favor of regular mediocrity. I'll put the premium in the bank and spend it in retirement.