Just because something can be gotten for less money doesn't mean it's the obvious, better choice. If it's the better choice for you, then go for it. But I'm not going to sit here and shit on someone's decision to buy a $20 watch that "tells time just fine" while I have an ultra luxury watch on my wrist that has precious gems, handmade gears and sprockets, and an automatic self-winding mechanism with a 75-hour power reserve in it that was all hand-assembled in Switzerland and cost an exorbitant amount of money that, most importantly, was given to me as a gift by my entire family, the same way I wouldn't shit on someone for paying 6 figures for an A. Lange & Söhne 1815 Rattrapante in Platinum.
£300 for a watch is pocket change compared to what my watch cost. So what? My watch means a shit-ton to me, and if it happened to be that I bought it with my own money, it would still mean a ton to me because I value the timepiece, the mechanisms, the science, the craftsmanship, and horology as a whole, in general. For people who want expensive things like cars and watches, the experience is just as important as the utility. Does that mean a $20 watch is crap? No of course not. But for those who appreciate such things, ultra luxury watches (and other things) hold just as much value as more cost-effective alternatives.
The same goes for cars, or anything else "fine." If someone appreciates it, and can afford it, who cares if there is something that "does it just as well" for a fraction of the price? And it isn't even our business if they can afford it. We are so quick to pass judgment on others' choices just because they differ from our own.