@Ganymede That's just it; I knew this at the time (partly why when we went I was surprised as hell to see so many places selling them). This was in the 80s. I chatted with the guy who sold it to us when I mentioned being surprised to see them about the resurgence. The history I knew then was 'feminine empowerment phase initially, became distorted/sexualized as anything like that unfortunately does, became symbol of luxury and dissent with horrific results (as you describe)' and 'remained more prevalent in Hong Kong throughout but was still rare' (which is where we were).
We weren't super comfortable with the idea of buying it at first because of the history (and the sexualization/fetishization), but we could get behind the 'sign of independence', which he explained at the time, along with that it was 'the start of Hong Kong's return to China from the Brits that people wanted to encourage' along the same vein. These did not seem to be bad sentiments, though I can absolutely understand why someone who was not a part of that resurgence would be extremely put off -- it had been our initial take, too. (We kept that guy at the shop chatting until after they would normally have closed, I swear. Maybe he was just trying to sell to the tourists, but that wasn't the impression we got at the time, fwiw.)
I was always the megageek on costuming since I was about 7 or 8, when I realized I was never going to be Jacques Cousteau due to a paralyzing fear of moray eels. (No, really.) I knew this stuff at the time since I did a deep dive on clothing info pre-travel, because megageek, and my mother was a hardcore textile arts hobbyist.
I outgrew it within the year, regardless, but I do keep it.
Even now, when I travel, I try to get something wearable that is traditional in some way to the area. It's mostly jewelry or an accessory these days, since not a lot of places have things in 'one size fits short round woman made of boobs', but it's an interest in the area and related clothing and ornaments. I have a lot of stuff I've bought like this that I could never wear/waggle into, too, since it was an interesting find for whatever reason.
But, yeah, I don't disagree that 'it was pretty' is the most likely reason most people go with -- it's just not everyone's reason. Thirteen year old me would not have ever made it back from that experience if I was in that person's shoes, and the only reason I'm not is because people weren't tweeting in 1986. I doubt anyone would have listened to the info related above, and probably wouldn't (or don't) care either way.
I will totally put up a pic of the kitty in a little bit though 'cause... she's a derpy doll and she's in a nip frenzy today.