the reach and scale of social media and how brands can interact (or not) with their followers has really changed the marketing game, and i think premium mediocre combines this insight with the poor economic prospects of the millenial generation
"Premium mediocrity is the story of Maya Millennial, laughing alone with her salad. She’s just not a millionaire…yet. She just doesn’t have a mansion…yet. She just doesn’t drive a Tesla…yet."
strongly implied is the fact that she never will have any of these increasingly mediocre/disposable goods, and that she will be happy to consume increasingly premium but increasingly mediocre asipirational products for the rest of her life because she will never be productive enough to earn close to what her parents earn to afford true quality goods
but also maybe this isn't an intrinsically bad thing and just a sign of a more disposable/fleeting relationship with houses, cars, etc. (which is bad on further reflection, does not bode well for the environment)