LOL at the hate in this thread. Aren't we the ones who buy $1,000+ laptops? I buy Burberry perfume, why? Because it smells good. It does cost about $100 a bottle, but it's my favorite, and I can find it cheap on Amazon. I have some other designer perfume that is cheaper, but the scent sucks and I never wear it.
Should people be buying clothes that are $200-1,000 in price? I think a good trench coat, a pair of boots, and a good wallet and handbag go a long way. If you pick a good brand that is and understand the material you're buying and take care of it. I know people who are still using the same designer bag they bought a decade ago.
Save up every year and get a few nice things... I see absolutely no issue in that. We have pots and pans from almost 25 years ago that cost $1,000 and we're still using them.
I don't see anything wrong in the iPhone 5S being used this way. It's better than it being in forgettable music videos and TV shows.