Auditor55
I would grant you all your points from a pragmatic and fit for purpose point of view. From a pragmatic use point of view, your thoughts are pretty accurate.
But, that's not what million dollar cars, $500,000 audio systems, or watches that cost a small ransom are to their owners. They are not the pragmatic item most people use. In that part of the spectrum, the object of desire (as
@Swerd described it) is no longer about the functionality of the item. It has crossed over in to "something else altogether" territory.
I personally know a fine fellow who has dumped close to $60k in to his audio system during the last year. For him, it needs to sound beautiful (and it does). But, that's not the reason for the lavish investment. He's in his mid 70's, knows he doesn't have that many miles left, and he wants to splurge and have a ball with his audio hobby like he has never done during his lifetime. For him, its worth every dime. And he's not out evangelizing and suggesting anybody else do it: he's just enjoying his hobby.
I've owned several Rolex's over the years. Most folks don't buy a Rolex to tell time. It is a watch. But, that's usually not why you buy it. I don't own them anymore. I now have audio stuff