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If cheap furniture made by compressing glue and sawdust together existed 100 years ago, I bet it would have sold well.
Same goes for shoes. Everyone's wearing terrible plastic stuff nowadays.
My grandparents deliberately saved up for the expensive oak furniture. It was meant to last the rest of their lives (which it did). They had a different mindset than me and you who want something nice looking that doesn't burden the bank account too much
That and I didn't want to buy solid oak furniture when I lived in apartments and had to move on a dime because the landlord wanted to jack up rent or pull something... Again.
People bought mail order houses, which I think confirms the popularity of lightweight and portable big purchase items.
Chipboard was one of those things invented twice simultaneously during WWII, as the Germans and Americans looked around for resources to exploit and noticed the massive amounts of sawdust they had piling up. Chipboard cabinetry and furniture starts to emerge in the 1950's. Ikea was founded in 1943 and started selling furniture in 1948. So cheap particle board furniture existed ~80 years ago, and did indeed sell well.