I think the following: "In ancient times these wonders were built with the purpose of showing how much wealth the empires had, and in order to last for generations"

If we take a look in detail, we notice that now the wealth of the world has focused on a single group of people. (And they do not want to spend it by building anything) governments and empires, have the magical printers of paper money, but only use that magic to develop war technology and others use it to enrich their own pockets.

This was excessive consumption to such an extent, where they no longer build that kind of wonders overlooking the future, they only build structures whose purpose is that they keep you spending.

And here you mention a great example football states. (bread and circus for the population), same formula used from the spoca of the majestic Roman coliseum that you mention in your lines.