If we even accept the premise (and it's a doubtful one, obscene wealth was always visible), it's worth pointing out that a lot of wealth is generated simply by

If we even accept the premise (and it's a doubtful one, obscene wealth was always visible), it's worth pointing out that a lot of wealth is generated simply by being in the public eye. Cynically put, the not-wealthy like having a look at the things they'll never have enough to hand over money for it. As for "millionaire next door", they're still around. The US has 20 million of them. But most of the "next door" wealth is achieved through doing a "normal" job. (I.e. jobs that most other people can relate to, and could possibly achieve working in) Ostentatious wealth is requiring arbitrage of some form, at scale. Celebrities arbitrage fame. And it's a smart business, because part of their payment is more fame. Hence the "crass popularity" contests. People pay them for that popularity and make them more popular.