In my opinion the only people who take it too far are those who start making silly decisions related to their other life goals because they have essentially become addicted to saving/making money. To me, these are the people who jeopardize happiness in other aspects of their life because they are addicted to their budgets. An example of this would be if a well-off, financially secure couple in their mid 30s continues to delay having a desperately wanted child just because they're afraid the expense will set their FIRE date back by a few years. To me that’s taking it too far. But choosing to ride around in a safe clunker, or wear hand-me-down clothes? Totally fine. Most mustachians are not so pressed for funds, or so painfully frugal as to be socially clueless, that they would wear obviously threadbare outfits to something important like an interview or work event.
Mustachianism is more about value for quality as opposed to finding the cheapest option available - so theoretically you can be a mustachian and still own a couple of beautifully tailored designer suits or outfits if they last for years and make you feel great when you are in them. my husband has a couple of expensive, tailored outfits he wears to important meetings with funders. definitely worth the few hundred we spent on the designer jacket and tailoring the pants just so.