I understand fully what you are saying for sure.
I do understand the outrageousness of fashion shows though, but only because there really needs to be a way for creators to just use their imagination. I mean look at the polar opposite of that... cars. Cars today, no matter the brand all look the same. A Honda CRV looks like a Toyota Rav4, etc. They all look the same because they all have to adhere to the same rigorous crash test designs. Because they are all must meet the same standard, they end up looking so much alike. They have too when the designers are making a car with the same crash test ratings, fuel mileage, range, emissions controls, etc. So if you take that away, and let anything go; sure 99 out of 100 times the design looks outrageously silly, but that one time a design might be new and different, actually works. Or... an element of the radical shoe design works whereas the other 80% of it doesn't. So I see fashion shows as a viable venue to get creativity out for the world to see without limits.
My frustration is; I wish it was not dominated by big bucks. I firmly believe there are excellent Cordwainers and Cobblers doing it as a hobby making amazing high heeled shoes out there that are both unique yet wearable, but there is just no practical way to get their designs for people to see. Youtube and Social platforms help which was never an option 40 years ago, but I think high end designers get caught up in their own success and notoriety.