Part of the problem is that it trickles down and affects sport at lower levels. I was an age group swimmer (ages 10-18) when those suits came out. I can't remember exactly but it at least 10x'd the minimal equipment budget for the season. The suits were not only much more expensive but they wore out after a small number of races.
Suddenly a line was draw between have- and have-nots based on whose parents could and would buy this stuff. (My club, like many, practiced in a small municipal pool and it was very budget friendly. The fancy suits would be a large fraction of the annual cost to a family.)
In my opinion banning the suits was great for the sport at the age-group level, and thus the sport in general.
Suddenly a line was draw between have- and have-nots based on whose parents could and would buy this stuff. (My club, like many, practiced in a small municipal pool and it was very budget friendly. The fancy suits would be a large fraction of the annual cost to a family.)
In my opinion banning the suits was great for the sport at the age-group level, and thus the sport in general.