Don’t get me started on Lexi, Infinities and Mercedes’ of the Yeshivish velt, to say nothing of the top of the line Leather Odyssey replaced every two years.
Very distasteful, but a very, very small minority in my experience.
As an aside, I believe it was Rabbi Bender in Far Rockaway who was very against the Borsalino for this reason, that it creates an expectation on a child that is very hard to resist.
But he apparently lost that battle, and as you say, it’s very hard to resist, which is why, although I don’t like it, I think a mountain is being made of a molehill. A bochur wanting a Borsalino, in the reality we live in, is not optimal, but is not indicative of extreme decadence on his part.