boots theory makes sense to me because all the way through primary school, i had a Jansport. every year the zipper broke & i had to get a new one, say $35? in 2012, i got a Chrome shoulder bag for, oh $200. finally retired it this year because my shoulder gave out. bag is fine. $200/14=14.2 < $35
I think the reason people get so obsessed with “boots theory” is because it lets them tell themselves that buying cheaper stuff represents an injustice being done to them. The fancy boots are more cost-effective, but they’re unjustly deprived of that advantage