It is at least the end game for marketing and advertising. E.g. Red Bull marketing wants to sell you the feelings of a life style, not a caffeinated beverage.

It’s definitely been around for a long time for some companies (I think auto manufacturers have been trying to sell cars = personal freedom and status as long as the car has existed) and you could argue that governments and religions have been doing it all of history, but I do agree that a lot more companies have been doing it the past several decades. Every damn podcast ad has to be about how a razor, mattress, or pair of underwear is a defining, empowering lifestyle choice.