> As a teenager, it becomes about the mating ritual.
That is an interesting observation.
The mating ritual is about differentiation and perhaps the easiest way to express that is through the application of money (which takes the place of effort). Although I would dispute the assumption of a 'quality' mate. Such judgements are difficult if not impossible during one's teen years given a lack of experience both of one's self and of one's self in the context of another. The entire concept of "cool" is, at its heart, this sort of mating ritual.
That said, I observed that there were many different groups at my high school, each with their standards of 'cool' and thus various ranking systems. Atheletes, band members, socialites, all had their 'most' and 'least' cool members. For athletes (as an example) their physical prowess had little to do with their financial standing[1].
I continue to think that it is important to "catch" emergent materialism in children and to hold it up to the light and show them what it is, nothing. Talk to them about whether or not having the latest phone changes who they are, or changes the way other people are. This is exactly when people start developing a sense of how to measure themselves in the world and if you let them believe that they are measured by what they own, they will have a very hard time ever measuring up.
[1] Or their success fitness as some succeeded in later years and some didn't.