Well... the people I know who go to a LOT of trouble for their kid's birthdays aren't exactly rolling in it.
Mind you, there's a clear difference... people who make big deals of 1st/2nd birthdays are just finding an excuse to have a party for themselves. Then as kids get older, it comes down to personality. I know, I had a big party at 7... and didn't do another one until 19... it was always small parties with 6-10 people, in a backyard, but not every year.
Sweet sixteens are very suburban upper-middle class, yes, and often are very vulgar. Debutante balls, on the other hand...
Debutante balls are monumentally creepy....