The actual rich are buying $1000 Gucci shoes that wear out just as fast as a $100 fashion sneaker these days. They put in a $100k kitchen and then do another full remodel in 10 years because it’s not the current style anymore. Cars? They lease or buy every 3 years perpetually so always have a car payment. I’m just not sure I buy this theory in the modern world. Everything we have is designed to last for a few years and then be replaced.