@@unavailable8282 For sure the game makes pretty clear about that. But take a deeper look on the lore... Even in this video a lot of the late capitalism is mentioned as a driving force on the world of Mullet Mad Jack. The exploration of the working force is all over the place, even shown by small details about strikes during the game. And, again, watch the post-credits and see for yourself.
I don't believe nostalgia is inherently bad and I do think things in the past were inherently better. Technology and life held a good balance between practicality and encouraging outside life.