Ehhhh, I dunno that I'd go that far. It's just different shit. I think we all know plenty of people lined up the second a new iPhone or Pixel is announced.
The culture at one point used to be REALLY insistent on showing off that you drink only the finest wines, eat the fanciest steaks, and so on. Trump is basically like, a distilled down and exaggerated throwback to this sort of tendency to buy stuff more to announce "I'M RICH BITCH!" than to actually enjoy the thing itself.
Insofar as millennials are still materialistic, I'd categorize it more as conspicuous consumption of "experiences." So rather than buying fancy things to announce how rich you are, you just post instagram pics of yourself in fancy places. If not for the carbon emissions from jet fuel, it would probably be a way more environmentally friendly way of being a status-whore all things considered.
Trust me, "finance bros" still have plenty of insanely expensive items that are largely meant as signals to the people they work with (other people in finance).
Further, just because it's more understated doesn't mean it's not primarily meant as a status symbol or signal to other people. Remember when the rose gold iPhone was more expensive than the other colors, and it sold out immediately?
> So rather than buying fancy things to announce how rich you are, you just post instagram pics of yourself in fancy places.
Is that really better? Maybe it's not materialism in the strictest sense of the word, but the underlying desire (to signal status to others) is the same. The only thing that's changed is the artifact of that desire.
Agreed. Drinking the fairest trade coffee and the most micro brew beer has replaced having a massive TV and high end clothes.