I think it both funny and sad that people judge an item by its worth.
"I have this perfectly good watch here, but that one over there is expensive. It must be better!"
I can understand wanting to upgrade if the other item has more features or whatever, but if you have something that works perfectly fine and choose to spend money on something that maybe looks a bit fancier or is more popular, that just seems dumb. Use that money for something more useful!