I swear, this is one of the weirder trends / memes I've seen around the Internet.
Vaporwave is kind of an exaggerated, concentrated aesthetic "art form" built around the cheap, commercial nature of the 1980's and early 1990's. Frankly, I like the style as it's nostalgic but there's this undertone in the vaporwave community of a Marxist criticism of commercialism and consumerism. I don't know so much about that aspect of it but this whole thing apparently originated on Tumblr so take that into account.
Any "message" attached to it put aside, it's relaxing.
For me, it is far better to grasp the Universe as it really is than to persist in delusion, however satisfying and reassuring. -- Carl Sagan
That is some pretty chill music. Speaking of retro-sounding stuff, I tend to enjoy the sort of new retro wave stuff, that hearkens back to 80's and early 90's techno and electronica.
That has a neat feel to it, it's just a little bit before my time but I get where they're going with it. It's a mix of nostalgic and tacky, would be my guess.