Is it a question of evolution? The good photographers maybe initially were trying to be unplanned and somewhat random, but end up developing styles and themes that are theirs. This is due to introspective and attention to what they capture.
People set out on instagram with the goal of being cool and edgy which is not focused on the art. They never get to a point where the art is developed because they are not humble enough as the street photography is more about them than anything else.
How much are you saving? Since I have a job, and would rather trade some money for more time, I choose nicer kit with better warranty. I definitely didn’t do this when I was younger and would run at a much lower cost.
I had more losses and maintenance work back then. In either case, the real specs are what matters. There is more obfuscation of things now than there used to be. There is also more market consolidation and less competition to keep manufacturers on their toes. None of this is great for the consumer.