The thing is though- who are we to tell people what they can spend money on? Yes people do spend ridiculous amounts on what can seem frivolous to ourselves but if they have the money who cares really?
I am sure that many of us spend money on things that others don't comprehend even if the amounts spent are a lot less than many quoted. However if we had the money, then we might well spend more on the item. I would quite happily spend thousands on a home audio set up if I could.
Even spending an extra £20 on a pair of headphones is ridiculous to people who don't listen to music yet it's easily justifiable to many of us. I spent £75 on a HDMI cable when I got my HD T.V