That's how it's always been. A lot of these people came from the world of sports cards or comics and saw video games as the next thing to make money on.
There's also some of them that just want to wave their e-peen around. You ever notice how all of the arguments from the sealed/graded collectors always boil down to "You're just jealous!" They refuse to acknowledge any criticism of their "investments". They WANT people to be jealous of them, that's part of the appeal. They love the aura of elitism. That's why you see all these comments coming out since Karl's video like "he's just jealous - he just hates graded games - he's just mad he didn't get in on graded games when it first started" or some variation of that.
It's weird because I'm involved in a lot of collecting circles for different things and I really only see this with vintage games. You see these guys whose entire life and personality is defined by their video game collections, and a lot of them seem to not really have any interest in the games themselves, it's just an internet ego-boost thing, which is also why you see so many of these people sell everything off and completely leave the hobby all together.