Years ago when I worked at a serious camera shop, there was a much greater difference in equipment between the haves and have-nots. I used a Pentax and a Rolleiflex, both purchased used, after a lot of saving, or many small payments, truly in the middle when most people really shot a few rolls a year with a Brownie.
There were a number of well to do folks, and others who craved the status of owning the most expensive equipment, and I knew several who carried Hasselblads and Leicas as accessories , almost always in their never ready cases around their neck. Some sported a Minox on its chain.
They rarely shot any photos, certainly knew little about photography, and some formed clubs where they would shoot the odd roll of a model hired for the club, essentially for the opportunity to see a nude woman.
Since, there certainly has been an explosion overall in serious interest in photography, with the cost of very good cameras and lenses dropping relative to folks' incomes, allowing almost anyone to obtain results limited by their talent, not equipment.
Lots of those early expensive cameras came back to the shop as trade ins years later, often in the original boxes, never used and shutters slow.
Today, there are so many cameras everywhere, the status symbol camera of note to most people might be the iPhone. ;-)
Average people today do not even recognize what we appreciate as classic gems, especially if it does not record video and download MP3 files.
Through all of this, the pros of journalism and commercial photography danced to their own tunes, a very small percentage of the whole of popular photography by the masses, who most likely would see a significant investment in a camera as an excessive waste of money, and truly did not want a camera they had to "set".
Regards, John