Party Monster Vs. Studio 54

I just saw “Party Monster” on DVD and enjoyed it. Even though I am from NYC I was ignorant of the “Club Kids” and that whole scene. In the 70’s I was pretty anti-disco as well. So what is the difference between a “rave,” this “Club Kid” scene, and Studio 54? The motivations of sex & drugs, and overall bizarreness, seems common to all. They said that there would never be another Studio 54, but what I saw in “Party Monster” looked pretty similar (from an outsider’s perspective).