I'm thinking about using gloves for health issues when going out in public--btw, when used properly the formal ones were a health help to the wealthy. Maybe if the ones used for sanitation today could be made more glamorous they would become more popular!
More to your point, though, I doubt it. Real money used to be pretty much bound to family ties, therefore, more formal occasions were tied to those families who taught their children how to dress and behave on an elevated level. However, people from all sorts of backgrounds have real money these days. For all the societal cries of not having enough money, the truth is, people have enough money to keep making players in Hollywood, sports, and other entertainments very rich. The majority of today's "rich" do not have the upbringing that would allow them to function "formally" so they've created their own brand of a casual formality. They can hire assistants to instruct and help them get by in truly formal situations, but they do not have the foundation to make it a way of life, in other words, to take it beyond particular events. Anyway…there's more to it all, but something along those lines is what came to mind first. :)