Or if one lived more modestly. If the person making $200k/year lives on $100k/year and saves the rest, they'd still need to cut back a bit to drop to $50k/year, but not nearly so much.

Mortgage and family would make that more difficult, but from my perspective ($80k/year, single, and quite comfortably not spending even half of that), $200k/year certainly sounds "wealthy enough" to me.