In human society its arguable that fashion is a tool of communication. At least thats how I have to justify it to myself because I hate being forced to participate in it but we all are constantly being judged on how we look.
> Yeah completely agree that price is decoupled from quality nowadays
In the world of physic tools, price and quality are highly coupled.
To your other points, I honestly think fashion is very rewarding and healthy so long as you are focused on making yourself look good to you. And I agree, some fashion conformity is unavoidable. Especially depending upon your career field.