That was really well done...he addressed a number of topics that come up on the forums often. If you have the bandwidth, I'd definitely recommend watching.
There's a recent thread here with "Keeping up with the Jones' " reference, and I've thought before about how that age-old stereotype just doesn't seem to fit me or really anyone I know anymore. In this video I found a quote which I think fits today much better: "If they can afford it, surely we can too?"
I've caught myself with that mindset more than once...I'd look at someone's nice vehicle or home, consider what they do for a living and guesstimate what they make, and think "well, that may look really expensive, but if they can afford it, I bet I could too."
This has really little to do with wanting something based on manipulating the perception of others, but more about how being able to "afford" something has morphed into "can I afford the payments?" Long-term revolving debt has become so common that it seems normal, and it takes effort to not think like that.