Damn man, even the clothing of bard NPC is copied from that of W3. How do you explain that silly clothing of him in BG3? It is so out of touch that not other character's fashion matches it. It is too obvious to ignore they just wanted to make him Dandelion 2.0 but they failed miserably.
Volo's clothing has always looked outrageous compared to everyone else's. It has nothing to do with Dandelion. Volo is often seen as "go-to" guy for adventurers, even if much of the information he provides is wildly exaggerated and contains a lot of half-truth at best.