I don’t follow why you think this dynamic exists because wealth and taste are correlated. I think the dynamic I am describing is independent of that, and caused by it being very hard to find a signal of taste say that you cannot buy with other resources at least somewhat. If in fact taste was anticorrelated with wealth in terms of underlying characteristics, a wealthy person could still buy other people’s tasteful guidance for instance.
I don’t follow why you think this dynamic exists because wealth and taste are correlated. I think the dynamic I am describing is independent of that, and caused by it being very hard to find a signal of taste say that you cannot buy with other resources at least somewhat. If in fact taste was anticorrelated with wealth in terms of underlying characteristics, a wealthy person could still buy other people’s tasteful guidance for instance.