I have no objection to strapless Wedding dresses but, to me, they don't look comfortable. However, they seem to be the norm these days. Woe to the bride who wants straps or (gasp) sleeves.
When I was married in 1983, my dress was a lined, knee-length sheath of cotton lace with long, unlined lace sleeves. It was comfortable, modest and cost 40 USD.
We also had a modest reception but everybody had a good time and a good meal. We were buying our co-op and figured that money was better spent on Mr. Mortgage. Our guests agreed. One of the nicest compliments I've ever received was when niece told me she modeled her Wedding after ours.
I agree that the fashion for strapless Wedding dresses is market-driven. These dresses usually require special foundation garments that add to the cost of an already expensive dress. On 'Say Yes to the Dress', I've seen brides whose gowns cost more than the down-payment on our apartment.