Two things come into vogue in the mid 20th century; plastic and electricity.
Plastic does not age well. It decomposes with exposure to light, so pretty much all old plastic looks pretty bad. Personally I never buy old plastic even if it looks good, because, well, plastic.
Secondly electricity. Electricity things again do not have good longevity. (In the shop were a few old-style hand cranked cast-iron meat grinders. They'll still work perfectly 200 years from now. The plastic attachment to my Kenwood mixer; not do much.)
For furniture, material again comes into play. Solid (hard) wood new furniture is very expensive. (As it should be.) So most wooden furniture made now is either soft-wood, or manufactured wood, or both.
I buy old furniture from time to time, but I also do what I think lots of people did in the past (and which has not survived) recycle wood i have to hand for practical purposes. I don't expect these to live beyond the room I'm making them for.
First, tastes and circumstances change, so it does not benefit me to spend extra on furniture/decorations/etc that last decades. Second, the prices increase drastically and disproportionately at the high “quality” end of the curve.
For example, I want to spend for the best on the bones of whatever I’m buying. The foundation, plumbing, electrical, that stuff is there forever, no one wants to open up walls and dig to fix things.
But furniture, decor, fixtures, finishes might want to be redone in 10 or 20 years. Plus it’s much cheaper so that you can afford doing it every 10 years rather than buy something that lasts 100 years.
In business, customers respond to the same. They react positively to design changes every decade or so. That’s why hotels/restaurants/stores/etc go through a property improvement plan regularly. It makes people feel like the property is being renewed or invested in.
Is it a selection bias, a survival bias, that says that violins are particularly durable and fancy if they didn't accidentally light on fire? No. I think the author is completely right that it has to do with functionality and taste.
(Yes, it is perhaps the case that this all conspires to form a bit of circular logic. It happens sometimes.)