Not disagreeing with you but quite a few younger people driving those cars are living at their parents and have little to no other significant expenses. Yes, 800€/mo is a lot for many but for some it's in the "affordable if I don't do much else" category.

I've also heard about people pooling their money and driving them on alternating weekends. Luxury car ownership has gotten a lot cheaper than before when you needed to pay upfront or with hefty interest.