Tough to say just where "conspicuous consumption" goes from a pleasant bit of self indulgence to ridiculous frippery. A fuzzy line, but I think the famous dictum about pornography (hard to define, but you know it when you see it) fits!
Now, a Ferrari (since it was brought up) is to my mind a perfectly reasonable bit of self indulgence that I'd treat myself to if only the Universe had seen fit to reward me as I deserved.
Sure, my Subaru WRX may perform up to what were recently supercar standards in many respects...but it doesn't have Pininfarina design. Or that 12 cylinder sound. Or those other intangibles that separate the great cars from the merely very good. On the other hand, a lot of the megabuck high end audio gear (not just the cables) strikes me as the equivalent of a gold-plated Ferrari with silver wiring and platinum pistons - ridiculous frippery that does nothing to improve the car and might even degrade it's performance.
What gets me is that the Audiogoners and Audio Asylum inmates seem to genuinely think that all the "gold plating"
does make a difference in audio. If they said, "oh, I just think the $2k cables and $80k amp looked cool and I felt like it" it would be one thing. But no! We get the guff about "microdiodes" and "break in" and "midrange liquidity".
Paradoxically, I doubt that they would laugh at the idea that silver spark plug wires and platinum pistons* would improve a Ferrari's 0 to 100Km/h or lap times. What is it about audio that brings out the credulity in some people?
Another thing: except for members of the Lucky Sperm Club, a lot of these folks had to earn their piles 'o' cash the old fashioned way, often in careers that presumably require the regular exercise of logic and critical thinking. Makes you wonder...
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*Yeah, yeah, I know about lightweight forged pistons...gimme a break!