I have an iPhone because it is (for my needs) a better machine. I wear Nike running shoes because they fit me well and that gets me a safer workout. Some thin

I have an iPhone because it is (for my needs) a better machine. I wear Nike running shoes because they fit me well and that gets me a safer workout. Some things have functional advantages even if they also signal status. The working class has at least as much need for functionality as anyone else. A $400 phone vs a $200 one could easily be more useful to a poorer person than a richer one. Same with $100 vs $25 shoes. My Seiko tells time as well as a Rolex (though not as well as an even cheaper quartz watch would). But even here, where status is definitely a factor, it’s not like the Rolex has no additional value: it has resale value, and aesthetic value.