Earlier quoted context omitted.
I personally would feel quite ashamed to have the latest IPhone, I'd feel that I'd fallen prey to apple's marketing. I live pretty well with a 5 year old SE. For the same reason I refuse to wear visibly branded clothes and am not ashamed to buy some used items. Living frugally by choice gets you back some freedoms.
Certainly, but you're also a product of an environment which values that sort of self-expression. If every time you went and hung out with your friends they shamed you, saying you look homeless, you might think differently. Its certainly a sign of maturity to not really care about those things, but depending on your life trajectory different values will hit. And clearly, a lot of people value a new iphone. OTOH - its…
"American society" is the environment in which status symbols dictate the character of interactions. Wealthier people tend to value actions or experiences over objects (Do you recycle? Did you go to a "good" school?), and judge based on that, but that's not an absolute rule.