I do. I expect any woman in her mid 30's, which I am, and so was Meghan at the posting of that Instagram to have a sizeable shoe wardrobe, especially if you buy quality shoes (usually leather that's made well). If you begin at 20, then by 35, you have built up quite a collection. I remember my first 2 pairs of over $100 shoes, and that was for my 21st birthday. I still have those pairs along with many others accumulated over the years and I'm 35. From doing a mental count, I have maybe 40 pairs, not counting 1 pair of gym shoes, 1 pair hiking boots, 1 pair rain boots and 1 pair snow boots.
Also, just to clarify, this resonates more for us in urban areas such as NYC, Toronto, LA, DC, and London. Even in tiny London and Berlin flats, some of my friends were just as much shoe hogs as myself.