My impression is that Tiffany wants to appeal to millennials.
Consumer goods that were de rigeur (or at last aspirational) for middle/upper-class folks a generation ago are now considered a little stuffy. People in this demographic are veering away from the idea that you need a set of fancy china and good silver be a full-fledged adult. Formal entertaining is on the decline. People aren't putting $150 dessert forks on their wedding registries so much anymore.
(Of course, a lot of folks can't afford the sterling sets anyway, but this is more about people who *could* afford it -- to either get for themselves or give as gifts -- but no longer want to.)
This new Tiffany collection is novel. The objects are a little weird and fun. They are the opposite of stuffy -- they are common things that gesture to workaday life (coffee cup, plain bookends) or childhood. Instead of grandiose diamond jewelry or ornate sterling utensils (perhaps seen as matronly), you can now get a yoyo or a ruler. Some of the promo text emphasizes that you can use these Tiffany things as a normal part of your life, rather than saving them for special occasions.
The collection also seems designed to go viral. Even people like ourselves, who would probably ignore these kinds of goods, are now talking about them and considering visiting the store to see the marvels in person. Sure, probably we won't buy anything, but even just raising awareness is a win for Tiffany.
Strangely, I myself own an "everyday object" by Tiffany (though not from this collection). It's a magnifying glass with a sterling handle given to me as a gift years ago. I do treasure it and love having opportunities to use it. It feels special and fun to take this ultra luxury item out its fancy pouch just to magnify things. Would I buy it myself? No, but I totally get the appeal!