Unless you consider the status utility worth paying for. Some people think it is. I think they're wrong, but who am I to say how they spend their money?
Why do people by expensive clothes that are no better than clothes a fraction of the cost?
There’s evidence that people make decisions about others based on their clothing, even when directly informed not to during studies, so it appears there might be some utility in more expensive clothing.
Why do people by expensive clothes that are no better than clothes a fraction of the cost?