Vaporwave as it exists today, is not truly vaporwave. Yes, the aesthetics and music are the same but its philosophical underpinnings are no longer there, in fact they're beyond recognition. The transition of vaporwave from its original ethos from what it is now is a case study in irony, irony so poetic that it borders on comedy. To explain this, you must first understand what Vaporwave originally represented.
Vaporwave was memetic alchemy at its finest. The sonic and visual aspects of it combined respectively two different ideas that came together and formed a criticism of consumerism stooped in a sort of whimsical admiration for it in the form of nostalgia.
For the sound, vintage advertisements and music were chopped and screwed. The once bombastic RnB hits now sounded echoey, vacant, decrepit..... haunting. Ghosts of the past moaning long forgotten melodies. The music consisted of pirated or "plundered" samples; a further dig at consumerism though subtle.
The aesthetic too was based on retro imagery, though like the music is warped and distorted; juxtaposed with imagery of Japanese kanji and statues of Greek gods, it imbued the retro with the mythical.... showing how humans turn their own past into the stuff of legends through nostalgia and consequently the consumerist imagery they grew up with is too mythologized.
These two elements combined for an aesthetic that was distinctly ironic and simultaneously mocked and admired consumerism, but like all interesting memes, it had to come to an end. Much like the fall of the Roman Gods depicted in its imagery, Vaporwave eventually declined in popularity and became a dead meme.
Though vaporwave was a dead meme, it had an undeniable aesthetic and interesting sonic pallette. This was noticed specifically by the Soundcloud rap community, which subsequently adopted the vaporwave sound and aesthetic. However, Soundcloud rap was no criticism of consumerism, but an overt glorification of all the dirtiest attributes of consumerism. And, the style sold. Eventually soundcloud rap would go on to become a dominant force and with it vaporwave would see a resurgence. Suddenly you could find clothing at the mall using a vaporwave look. The e-girl/e-boy subculture rose and adopted this aesthetic into their style; a subculture associated with rampant consumerism and hypersexuality.
Now the ethos of vaporwave had changed. What was once appreciated by Neitzsche enthusiasts was now endorsed by Tumblrites. Before the aesthetic was associated with philosophical matters. Now it is associated with instagram influencers who want to ironically joke about their depression and insecurity.
Vaporwave had become exactly what it was mocking to begin with, a symbol of consumerism. A dead meme that mocked dead symbols was resurrected to become the symbols it once mocked. Full circle.
Rather fitting for something that was often liked "ironically".