I could tell you it's because I always wanted to have the best camera, best battery life, etc and those are true too but the bottom line was: it was fun and I could afford it.
I've always known it wasn't the smartest financial decision but no one acts 100% financially "smart" and joy is something you can't measure the value of quite so easily, I got a lot of joy out of having the newest phone. Not as a "look at me, I have the newest phone", I never would shove it someone's face or even call attention to it, buying the new phone was for me, not for anyone else or some kind of "status".
It's a toy and I decided that it was worth the "waste" due to the excitement/joy I got from it.