First of all, I see nothing bad if a person prefers a luxurious lifestyle, even though he can afford to it (for example buys items with credit card). There is nothing bad in heading towards luxurious life. I see such people as people who have a goal. The way I see it - if a person gets used to living in a luxury life, he will do everything to keep that way of living. I think quotation "Fake it till you make it" fits here perfectly.
Now back to latest smartphones. I use iPhone 15, which isnt latest one today, but still expensive. It cost a good part of my monthly salary. Similarly, I could be using any smartphone that has access to internet, allows to install apps and make phone calls. My phone did not look much different from previous version, or iPhone 11 I had been using before. In fact, the apps I use and their arrangement on the screen is not much different from, for example, iPhone 4 I had been using ages ago. So why I have purchased expensive smartphone? 1) because its wont lose value so quick with time 2) its battery is new, and buying same old phone seemed illogical to me 3) I dont want to stick to "old" gadgets, I want to strive for new and latest, to the progress.
There's absolutely nothing wrong living a luxurious lifestyle if you can afford it but the big question here is how many people living a luxurious lifestyle can really afford it? Latest smart phones is the topic and emphasis of discussion here. Majority of people using this expensive mobile phones can not actually afford it because there's no point using a phone that you can not confidently subscribe in. The fact remains that this tech company have brainwashed us to believe we need to change phone on a regular just like we change clothes. The funny thing is that they keep remodeling the same products for us with little or no extra features. I refuse to be convinced that I need a new phone unless the old phone can not serve me any longer.
So what is the reason then why people should not buy latest smartphones? Because every year they become more expensive and purchasing such smartphone on a release isnt smart? Or because the features and updates that latest smartphone has compared to previous or several year ago model, arent necessary so much? While I can agree that buying latest just to get something work 0.001 second faster, have 0.1MP camera better and have extra 1GB isnt that reason to buy a latest smartphone, I can discuss price pros and cons. Not everyone buy smartphone, with an idea to replace it next year. I have been using every smartphone I've got for 3-4 years. Take iPhone Pro Max with $1.2k price and it would cost you dollar a day to use it during 3 years. In addition you can sell it for a good price. Take any cheap smartphone for $200-300 that will lag all the time, have awful display and cheap plastic. You will hate this phone every day you use it, and replace it next year.