Earlier quoted context omitted.
Or, wealth inequality has gotten so out of hand that people are forced to buy the cheaper products. It's the age old paradigm of buying a pair of shoes/boots, the poor man keeps buying $20 shoes/boots that wear out in a year or two. The wealthy man looks perplexed and states, "this is why they are poor, they don't understand investing in a quality pair of shoes/boots... For a measly $100 they could buy a pair of shoe…
idk if this is useful info but at least in my case i tend towards cheaper items because 1. i dont want to worry about them getting damaged or lost or stolen 2. my preferences will likely change in a couple years 3. i may not want the item as much as i think i do i've owned a very expensive watch (many thousands of dollars) and i find myself almost never wearing it, both bc the style isnt exactly what im into these da…
4. the quality gap has closed considerably
e.g., the function and durability of your $8k watch and a $300 watch are effectively imperceptible
The gap is closing from both ends (cheap manufacturing, access to tech, etc.)