Why do people insist on citing outliers as if that somehow negates the trend? It really derails and otherwise productive discussion. Yes, for every general rule there are always outliers. It's so obvious that it serves no useful purpose to state it explicitly.
The perception that an expensive diamond is required is flawed. I'm trying to illustrate that it's an institution that's crumbling.
I really doubt that a significant percentage of those under ten will even bother with a diamond ring when at the age where they'll be getting engaged. By then they'll either be so saddled with student debt as to make the purchase impractical, or they'll be working two minimum wage jobs just to get by.