Originally Posted by aizan
a higher price may not get you higher image quality, but there is something else that it gets you: status.
spending more money will get you more social capital. that's why leicas, contaxes, hasselblads, rolleiflexes, and various other examples of expensive gear make such good instagram fodder.
This is it, really. Quality of results- if the object has been marketed as a "tool" of some kind- is a red herring. After all, you can carry a few items in a plastic bag just as easily as in a $20,000 hand bag. So, function of course does have its place but it doesn't need to be better. It helps if the object is beautiful to look at and use.
The social capital of having the perception of being one step ahead, having specialist knowledge, the wealth to procure, and the leisure time to use, is an important, and exploitable, aspect of human relations.
Summed up nicely by Thorsten Veblen, over a century a go.