Fixies aren't really popular beyond the hipster demographic; while there are a lot of bikes that cost >$500 dollars, they're generally bought by serious bikers for whom the value proposition is more than worth it.
> iPhone
The only thing exorbitant to me about the iPhone is the data plan, because of how often I'm in the range of WiFi. I'd argue having a personal GPS, email client, information lookup, etc. etc. is more than worth the monthly fee -- I've been lost in the country enough times.
> RayBans
Sunglasses, unfortunately, are in a stranglehold market. You either spend $20 and get colored glass or spend $200 and get an actual product (at a ridiculous markup.)
(That being said, I've had my same pair of RayBans for 8 years. They hold up well.