At some level, it boils down to appearances, does it not?
Some guys will go get a $10 hair cut at a local barber shop, others will go to a boutique and get a $50 cut. Some would not be caught dead in either one; they spend upwards of $500 getting a hair cut, pampered with espresso and sparking water while getting a complimentary massage.
Now, if you switched out the stylists and put the $10 barber in the boutique, and the $500 stylist in the barbershop, the client wouldn't dare set foot in the barbershop to follow his stylist. It's about appearances.
Take detailing, for example. If someone told you they use a $4 Meguiar's product on their car, some of you might look down on them. While you don't see value in this low end product, they do.
Ultimately it boils down to perception, and what you are willing to spend. Some will spend $75 on a piece of steak, others wouldn't pay more that $10 or $15, and it better come with sides.