I would certainly argue this point when it comes to fountain pens.
My MIL happens to be a high-end pen collector (with a collection well-above my entire networth, which isn't exactly trivial either).
She absolutely, positively loathes late production Mont Blanc pens. In her view, very low quality, particularly for the price. She claims that MB pens are for the "gullible."
I guess that's like paying $2,000-3,000 for a fused suit, no?