I think this is a very good point that often gets overlooked by people. For us Millennial's this is how we connect with the world. I'm not as driven as many of my counterparts into having the newest and greatest, but it's not uncommon for many of my peers to pick up a new phone, or computer every other year and heaven forbid you're a gamer... The price of graphics cards have skyrocketed since the crypto craze.
I've also noticed that a lot a people have started using hipster and millennial interchangeably, which is very frustrating on my part. Hipsters are a douchey subset of us millennials ****it!