I think in some aspects it has become elitist. But you'll have that in any niche group of people.
Overlanding is what you want it to be. If you just want to stay on pavement and see all the scenic by-ways that's awesome, if you want to hit amazing off-road trails, that's awesome too. My technical trail skill level is probably a 6/10, if you like more or less technical trails good for you. If you like KOA campsites or if you like primitive camping that's all good too. You don't have to "overland" the same way I do and visa versa.
But you don't have to spend a ton on your rig, you don't have to have every piece of kit ever imagined. And don't feel like anything less if you don't.
I've seen people on a trail with vehicles that I wouldn't hit the trail on, but they make it work and more power to them. I've also seen people with mega expensive rigs out there that even if I had that much money I wouldn't hit the trail in that expensive of a rig just in fear of damaging or destroying it.
But just don't participate in the keeping up with the Jones's game. Go out and "You do you."
I love many of these YouTube videos and am somewhat jealous of their rigs, their kit and their meals of steak every night and bacon and eggs every morning. Here I am packing a week of hot dogs, cold cuts and cereal for my meals.
But you know what, I'm still having a great time with my 10 year old Coleman ground tent, a who-knows-how-old Coleman cooler, my cheap Dicks sporting goods camp chairs, ancient camp stove and other things.
Would I like to upgrade, maybe depends on what. My tent is holding up well but will have to be replaced in the not too distant future. I'm considering a RTT, but then I have to get a rack too, have a place to store it when not on my truck, I'm not in a big hurry for it. My camp stove is ancient and probably only has a few more adventures (1-2 drops) left in it, but when it's time I'll probably just get another new one just like it. I will probably never have a fridge in my truck and wouldn't pay all that for a Yeti, probably another ol reliable Coleman cooler for 25% of the cost when ever this one finally bites the dust.
I'm less worried about the "Elitist" element out there. I think the biggest problem we face are the A-holes who don't follow the rules or even unwritten guidelines. They do things like litter, go off the established trails, drink & drive because its okay your on BLM land and there's no traffic or paved roads, have rowdy campsites, light fires in unapproved areas... you get the picture and you've seen these people out there too.
As a result we've seen trails closed, and other negative impacts on those of us who do respect the privilege of overlanding, respect the land, practice leave no trace and even leave campsites/trails cleaner than when we got there.