* I'd spend at least a day researching which Android devices were available. The truth is that it's a bloody phone. I was expending all my free will on trivialities and wasn't making choices that actually matter.*
Given the everyday utility of a phone, a bad choice comes with significant economic costs of wasted time and frustration stemming from poor performance/reliability. If you don't already have a preference (eg based on trying the preferred device of a trusted friend) then it's entirely rational to spend some time researching your options, up to some significant portion of the cost you expected to save by picking an android over an iphone.
I'm into synthesizers and if you think people nerd out on phones you'll probably be horrified at the energy and passion spent debating the merits of machines that produce subtly different kinds of bleep bloop noises. I don't spend as much time on that any more, and have also simplified and slimmed down my synth choices to a smallish number of devices I really like, but I don't consider the prior time wasted; it was only through that extensive and intensive knowledge-gathering that I was able to make those aesthetically optimal choices for my own music-making pleasure. It's harder to be simple than it is to be complex. Simplicity is easy to imitate, but imitators aren't usually innovators.
I do agree with your larger point about the undesirability of a surfeit of economic choice. If all you wanted was a phone that worked and you could afford it, there's nothing wrong with just getting whatever is widely hailed as the best one out there. I know nothing about cars and care less, so if I have to get a car I'd probably just get a Honda Civic due to its reputation for low-maintenance reliability. But I understand why people who enjoy driving or have some other reason to care have strong preferences about different vehicles.