It’s certainly been pervasive in my experience, and it seems fairly universal.
Often, the next thing requires even more resources, time, status, etc-and so this phenomenon prevents you from ever happily “living within your means.” It also reduces optionality, since now reducing your means would make the next rarified object of desire impossible.
Those things you wanted so badly become normal, no longer something worthy of special aspiration, and now you simply find yourself wanting the next thing. You find yourself wanting something so much-a new computer, a partner, a house, more intellectual freedom, more friends, etc-and then once you have them, the goalposts immediately shift.
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