Identifying Irony in Satire

Read the following excerpt from a satirical piece:

"In the prestigious university of Pompousville, the students prided themselves on their intellect, boasting about their excessive amounts of student debt while sipping organic, whole-grain lattes. Every week, they hosted debates on the philosophical implications of social media scrolling, completely ignoring the world outside their ivy-covered walls. To them, ignorance was not just bliss; it was a lifestyle choice celebrated at biannual gatherings called 'The Festival of Feigned Intricacies.'"

What type of irony is predominantly employed in this passage?