Exactly. Old timey rich people did it because only old timey rich people could afford it, so it served an additional purpose as a status symbol. Also, as mentioned, they had to pay artists and sit for hours. No instant gratification there. Commissioned portraits and selfies are two entirely different things.
I do however agree with the sentiment that selfies don't need to be demonized or seen as a sign of degeneration in current culture.
I think people demonize the people who take 15 odd selfies just whenever for no reason. People who spam social media with pictures of their own mundane lives. We hate those people. Not the people who go on holiday and take a selfie so that everyone is in the pic and not having to ask a stranger who could potentially run off with your camera or phone.
I do however agree with the sentiment that selfies don't need to be demonized or seen as a sign of degeneration in current culture.