I think you hit the nail on the head. My son works in tech, and spends most of his available cash on computer and related stuff. My daughter teaches but is a photography enthusiast, and she spends all her extra cash on photography gear. They and their friends mostly appear to spend their free cash, and time for that matter on things they can use, entertainment and experiences...Rather than spending money on things that are just going to end up on a shelf for display, or in a box.