I don't disagree with your overall point, but some of your examples are hardly Veblen anymore. Or perhaps we have very different definitions of upper-middle cla

I don't disagree with your overall point, but some of your examples are hardly Veblen anymore. Or perhaps we have very different definitions of upper-middle class. I live in what I consider an upper-middle class area, where median household income is about 3-5x the state's as a whole. Everybody has an iPhone and you can't throw a rock without hitting a Tesla/Mustang/Corvette. Jordans I won't comment on since I know nothing about sneakers, but I would argue the other brands are all no longer Veblen. My MIL used to buy only mid-range Samsung phones that would become slow or lose significant battery within a couple of years, necessitating a replacement. My wife finally talked her into getting an iPhone, and she's been using the same one for 4+ years and has no desire to replace it, because it's still working fine. And similarly for all the other people in my family and their iPhones. I personally still rock a Xs. So for us and millions of other people, iPhones are actually a better value than most alternatives. Similarly, the Mustang and Corvette are usually considered to be excellent values within their class. Sure they're toys, but they deliver a lot more performance per dollar than most fancier sporty cars. Tesla has been and arguably still is the best electric car brand. Add in the recent price reductions and the reintroduction of tax credits, some Tesla models now have final costs below the average new car price. Hardly a status indicator when you buy a car that costs less than many Hondas and Toyotas.