I don't purchase as much due to global events - I need the cash in my pocket. My cycling purchases used to be top end, really top end, but now I can go for a ride in a pair of regular shorts just as well as €80 ones. And I feel such a dick for blowing so much, so unnecessarily. Equally, thanks to various YouTubers (Hambini, Durianrider etc) - it's all a scam, anyway. I'm glad I woke up. Sorry lbs, and online stores, but it's back to basics for this non-pro.
I'm familiar with Hambini - and his bravado is well ahead of his actual knowledge. I'm not familiar with Durianrider.
I can say this with confidence - the bike industry isn't built on a scam. There are scammers within it (like any other industry) but the established brands are not scamming you with their higher priced offerings. They may be wrong about some of the benefits they believe they are offering, but it's not a scam.
It sounds mostly like your cost-value threshold has changed. And that's fine. But that €80 pair of shorts - if it comes from a reputable brand - actually does offer some benefits and advancements that a few consumers find valuable. When I read a comment like yours it sounds like someone lamenting that people purchase high-end GPUs. Sure, nobody needs 4k graphics at 120 fps, but there's a market for it anyway.