I also noticed the speaker frequently recognizes as trivial the obsessions and concerns of this group--what he relates as the petty disputes and insignificant interests of an over-privileged sect. Ferris' storyteller is, naturally, one of these self-professed overpaid, over-insured professionals.

The use of "we" and element of self-deprecation at first don't feel like pivotal elements to the storytelling. But they are for two reasons.
First, the self-deprecation starts off sounding a tad insincere, maybe, but eventually it feels obligatory, as if by rote. So I'm left with the feeling that this group, who are representatives of a generation, have been judged, and that the verdict on these people is that their predilections are trivial, a primary element of their zeitgeist, and that this is a real failing, comparatively speaking. So, it is a cultural truth that these people are undeserving overachievers. This truth is, to my mind, a real idea we have about the succession of generations in this country.
Second, this use of "we" and constant self-deprecation also allows the reader to excuse himself as he becomes engrossed by the story's "trivial" action. Perhaps it even affords him the tools to be engrossed. Points for that.