Another guy whining about the good old days....
Of course there are a certain number of cyclists that have to have the latest and greatest and most expensive gear, just as there was back in the imaginary old days.
And there are still people who are cycling for the adventure, enjoyment, or whatever it is the author is longing for. There are more cyclists now, so naturally you will see more of all types. Some are just more obvious than others.
Does it really matter to you what aspects of cycling that people are attracted to? There are plenty of roads and bike paths for everyone.