Imo it has to do with irrational high real estate prices (potentially depending where you life).

Back then you built or bought a house for your family with basically a 2 years salary (paid off in idk 10 years). Today most people likely never will be able to afford one with their salary. So the big thing to buy is off the table for most people. Fiat money will continue to lose value, so fck it, why save it? I would see it the same way, wasn't it for Bitcoin. It finally gives a reason to save for the future.