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it's not in any way different from 'designer' clothing or handbags and such kinds of things.

one amongst the many ways to signal status to 'peers'

Except no one thinks that a designer handbag is objectively better at carrying things or that designer jeans objectively makes walking easier and more fun. Audiophiles keep arguing that the things they do and buy are better for objective reasons.

Had they said "I bought these expensive network cables because I like the way they look and they match my furniture" that would be an entirely different thing.

Exactly, not just "objectively better", but "objectively better in a way only other bagophiles can tell, which makes no sense to anyone else". I could see different pants designs/materials making walking better, but this would be more like "these pants are more comfortable because the cotton was spun clockwise to match your DNA".

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