I remember seeing the analogy made that "stuck a feather in his cap and called it macaroni" could be translated into a modern context as "wrote a G on his belt and called it Gucci".
I'm not sure what the modern analogy would be, because I'm not sure what fashion is widely ridiculed. "Drew a fake tattoo with a ballpoint pen and called himself 90's emo goth kid."
Drew a moustache on his lip and called himself hip.
driving an abomination.
Clipped a tie onto his shirt
and called it sophistication.
In an '83 Mercedes,
Slapped a moustache on his lip
And belted out "Mmmm'ladies."
Escaping covid lockdowns
Bought up all the real estate
And thinks it’s Churchill Downs
buying all the comp'nys
the internet knocked down his door
he said "no that's for phonies"
You're probably thinking of Williamsburg, which the hipsters were priced out of long ago, into Bushwick. Those hipsters are now being priced out to Ridgewood (Queens).
Go into Brownsville and let me know how many hipsters you see.