Opportunity cost.
Some folks are just willing to pay more than others. It's loosely tied to an individual's discretionary income, but it's also tied to the perceived value of the product for a given individual.
When I was 22 year old college student and had a part-time job making $6/hr, I spent $800 on a "toy" that I thought I "had to have".
I'm nearly twice as old and earn a little more money, but I would not spend $800 on a trout rod. It's not that I can't afford it. I've spent that much and even more on optics, surfboards, bikes, and other "toys". But with so many decent offerings in the $200 range, I don't see the need to spend $800 for a rod for catching trout.
I'm perfectly content fishing my $120 eBay Scott, $200 closeout Sage, $140 clearance St. Croix, and $150 internet coupon code discounted TFO.
For me, an $800 rod adds nothing more than cosmetics and marketing. I don't "have to have" it.
With that said, there are times when I wonder if I should get rid of my quiver of 1 wt to 6 wt rods and just get one fancy, premium rod to fish everywhere.