The Social Insanity of Engagement Rings OR WTF everyone?

Had an epiphany at work while talking to a couple of people, one of whom is a woman who just got married, and I'm a little disappointing in myself for not making this connection before. So I'm going to put it here in case others never made that connection either.  Forrest through the trees and all that.

And I'm sorry if this comes across as harsh, but I'm not big on tiptoeing around things because feelings might be hurt.

Diamond engagement rings are a balls to the walls, utterly fucking insane, social custom.

I mean have you ever actually thought about it before? Allow me to explain the engagement ring to you in blunt terms: