It’s kind of surprising that diamonds still have appeal as jewelry at all given the rise of lab-grown. I always assumed that people liked them because they were rare and expensive.

It's marketing plus perception of how expensive it is. Most of diamond purchases are for engagement rings. Nobody wants to appear cheap. The expense and rarity is the point.

That’s a silly way to look at it. Surely people can realize that something made through natural processes has more of an appeal than something made in a factory?

That said, most of the gems I’ve purchased in my life have been lab grown.