IMO fashion is cyclical. We are just in a 'down' turn right now. Low rise jeans, stretchy nylon tops, tees and khakis will give way to something else. Heck even platform shoes came back and they will go away (again). Suits and the Jackie Kennedy look will come back at some point too...just wait.
As for dressing to the nines for Easter (buying new clothes, etc.) I think alot of families just can't afford it. My boys wore the same 'dress' khakis' with a nice shirt as they would wear any Sunday. And I didn't really notice alot of all-out, brand new Easter finery...just people dressed as they normally would have.