I agree with that. Nowadays, so many people do this thing, and they spend so much money only to maintain a fake lifestyle only so that they can please the society, but at what cost? If you are either making money or taking it from your parents, you are basically wasting all that money if you are spending it only to maintain a fake life, it's much better if that money is accumulated and then invested in something like Bitcoin, it will at least give you something back in the future, but faking your lifestyle only to get some attention won't get you anything good.
For a fake life you have to regularly spend to uphold a standard you ordinarily can not afford. The hiring of expensive cars, attending high class events and buying of expensive wears all contributes to a debt ridden-life cause most of the time all this lifestyles are maintain on credit.
I think they will just have to fake their lifestyle forever, but one thing is for sure, they will never make it. What they can only achieve to this are bunch of debts.
There are a lot of people who are too concerned about their social status, and they based it on the material things they flaunt publicly. Keeping up with the trend is a way to make yourself broke, and those who's struggling to even afford it are the worst way of faking.
We cannot call it "fake it till you make it", because they will never going to make it.
The best of way faking something to make it eventually, is to engage yourself into a job that you don't have any idea how to do it at first, but eager to learn and grow from it. This is very common in the VA world. Other than that, especially when we're talking about lifestyle, it will only bring you worse than good.