In the original phrase, the word used was not "cake", it was "brioche", which is a kind of French toast. And the thing is you still need bread to make brioche.
The phrase often but wrongly attributed to Marie Antoinette, alludes to the ignorance of everyday matters from the ruling class that are too rich to even know how to tie their own shoes.
That's exactly what my mom sees when she can't find her tabs in chrome, and I open edge because I figure that's what she's inadvertently been using since one of the windows updates.
There's this thing, called debt tho...