Certainly, there are degrees of frugality. I could probably spend more than I do but don't have a real interest in doing so and generally avoid expensive things that might give me some incremental pleasure but prefer to arrange things so that increment is pretty small and doesn't revolve around "stuff."
A LOT of Millenials were born rich. They may not have realized it, but now that boomers are dying off, it is stratifying Millennials through inheritance.
A lot of them have and continue to receive massive wealth transfers from their boomer parents through free-ish rent, gifts (aka pay for your down payment on a house), etc, etc.
