Conspicuous Lesiure and Conspicuous Consumption exist cuz they do help solving certain complex social problems eg how do you get very different people to work towards a common goal if theirs needs are met and interests are different? Even the smartest people in the world are drawn to totally dumb wasteful shit all the time. So you use it to pull them in.
The leisure class or the luxury class or the ceremonial classes are one answer. Cuz who do you want to work for the guy with a mega yatch and a sport team and a private island or the guy without it all?
Problems start when the leisure class forgets what's it's purpose is.
I enjoy my software job, but it doesn't give me that momentary feeling of invincibility that I get from playing sports.
There's no better high than being "in the zone" physically and mentally against tough competitors. At least for me.