You've got two bell curves that mostly overlap and a bunch of upper middle class know-it-alls who are trying to say profound things about the nature of the irrelevent little valley between the two summits.

None of this crap really matters. There's plenty of old money types who spend on flamboyant crap and plenty of new money types who don't and trying to generalize based on how many generations they've had money is beyond a fool's errand.