These were the keychains, perfumes, and ballcaps with astronomical margins that made the real money on the other side of the business, which was their loss leading spectacle (haute couture, etc.) You can't afford a DeHavilland Beaver airplane, but you can buy this saddle stitched wallet as a symbol to remind you of the image of one.
The aspirational products matter because they give us information about peoples true desires. It's a leading indicator for culture and politics. Even the Cambridge Analytica scandal was started by someone who was able to link peoples political leanings to the brands they chose. (I'd link the article but it's behind the FT paywall.)
When someone gets up in the morning, the things they choose to wear are an expression of what team they think they are on, what tribe they think they are a part of, who they think their main stakeholders are, and what kind of incentives motivate them. In business, that's about all you need to know about someone.
Given this, I get the impression fashion, business and culture are not the main field of the author of this op-ed.