This is probably also because so many clothes are made here, its demystified.
To be honest, it seems that in the most of US, merely being stylish is perceived as "effeminate" (for a man).
As a straight man who is into fashion for quite a few years now and who moved out of Brazil to Sweden: that culture is pretty stupid, I feel so much better and more myself when I'm able to express my personality with my clothes without the fear of being judged by someone's else prejudice... Even better that it's a common thing in Western Europe for people to be more fashionable.
I've bought some pieces that are pretty bold, I love some avant-garde male fashion pieces and being able to wear that without people batting an eye (and even getting random compliments) makes me feel pretty good, hope the Americas can get to this point because it's a very toxic masculinity trait for a whole continent to have and perpetuate.
I'm a Norwegian guy, and I love how tolerant we turned weirdly quickly. Even the anti-abortion Christian™ Party walks in the Pride parade now.
Frankly I think most people here would still think of the random guy in a dress as non-straight, but since "nobody" cares about that here anymore, nobody cares about clothing in a negative way either.
Especially true in SE Asia. I resisted the trend because it looks effeminate, like you're wearing a purse. Asian guys love them because they're super practical if you ride a motorbike or scooter tandem style. I think it works better for more masculine types to go for a bigger bag. I have a black Crumpler bicycle messenger bag (not super big, just a normal-sized bike messenger bag) and it works great for me down here.