we've come full circle! todays fashion is wide legged trousers, tank tops over white shirts and big heeled wedges- just like we wore all those years ago- i wish i'd kept some stuff. i looked ridiculous then and at 50 i would look rediculous now ( but i have got several pairs of lovely wedges!).
Fashion in the 70s was no more ridiculous than fashion today. What makes things look ridiculous when we look back on them is simply that they are not in fashion any more, but new fashions are just as silly. This is to be expected in a consumer industry.