It reminds me a bit of the Rococo era, which was the end of the Baroque period where everything was over the top decorative, dripping in elaborate ornamentation and fanciful curves.
That whole period was associated with the high life of wealthy Aristocracy, especially in France. Towards the end of Rococo, the French people had had enough, and the French Revolution toppled the monarchy and power of the aristocrats. And then, art did what art always does when there is a major social or political shift, it changed as well and left Rococo behind.
Maybe we are at the end of the high life of Industrial Magnates, who replaced the Aristocracy and it will take a social-political revolution to leave the kitschy art behind. The revolution seems to be happening albeit slowly and so far mostly thanks to social media...if FB doesn't limit us further.
I predict that art will once again return to acknowledging beauty and soul (after Rococo came Neo-classisim) once society becomes social-democratic, and the tyrannical Magnates and corrupt Industrials are forced to leave. It might only take bankrupting them and voting out the politicians that support them without a need of arms.