>How is that not irrational? Come on.
Rolex, Vertu, Louis Vuitton, Patek Philippe, Coach, Armani. All of these are luxury brands. Their products range from very expensive to more than the average person will earn in a lifetime, never mind the price of a well appointed house, all for goods which are at best five times as mass market equivalents that cost less than 1% of their price.
And they're worth it to t least some of their buyers either because they believe the difference in quality is worth it or because they understand signalling.
https://en.wikipedia.org/wiki/Signalling_%28economics%29
You may have heard that Elon Musk recently launched a sportcar into space. The Netherlands had rich people who could afford to spend money on things they enjoyed too.
There's no accounting for taste.
https://en.wikipedia.org/wiki/De_gustibus_non_est_disputandu...