>>18518159
Not only have the garments of formality changed, but the events of formality have changed also
In the past there were dinner parties, balls, opera and other such fancy get togethers, alongside weddings and interviews and whatnot.
Nowadays, most of those things have fallen out of regular life, even for a rich person. The opera was once something you would go to on a monthly basis, for some people it was even weekly. These days, even for someone who likes opera, it's unlikely they'll go more than once a year.
Balls and dinner parties just straight up don't exist at all anymore, maybe you'll go to one once in your entire life time, and it'll be a deliberately contrived thing.
What this means is that, owning a tuxedo/dinner suit for when you go to a dinner party is completely pointless because you will never go to a dinner party.
Today, a casual outing is going to the shop, or just for a walk.
One step up from that is going out on a Friday night, a date, or some other outing with friends, you "dress up" for these by putting on your clean sneakers that cost more than your regular sneakers and you make sure your tshirt is ironed. This is the modern day equivelent of the tuxedo.
One step up from that are weddings, interviews, court, etc. Weddings in particular are far more rare than in the past because people don't get married nearly as much as they used to. You'll own one suit that you will wear for all of these becuase they're only one-day events, you don't need more than one.
And that's it. It's extremely unlikely you'll ever need to go to any kind of formal celebratory event, and even if you do, nobody is going to turn you away at the door for wearing your one business suit that you own to it.