while I certainly think the affluency of the victims is a factor it would be disingenuous to claim this is ALL it is.

For any regular occurrence, at some point apathy sets in. Car accidents are just not interesting to report after the hundreth time. If there were a dozen lost subs near the Titanic every year, I'm sure the story would lose it's luster too.

There's also the aspect that refugees are an ongoing and much more complex issue. You can't just save one ship of refugees. There will be another one in short order. And if you do save them all the question is what do you do with them? At the very least that'll cost you money. At worst it'll cost you political power. Are you going to realize what these people have gone through to get them to a point where they are willingly face these risks? Realizing that maybe something should be done about that is even costlier. And depending on the political landscape in your country most will just consider this "a self solving problem" anyway.

This is not to excuse what we're seeing. But we can't pretend that the stories should be covered the same. They aren't the same. One is much easier to cover than the other.