A spot-on perspective, it's always useful remind ourselves of this so thanks for sharing. It's easy to create lots of justifications for a new and shiny purchase, but when you scratch the surface many times it isn't much of an improvement.
Also, the bike example is a great one. I have kept the same $800 road bike for the past ten years with the same reasoning. If I'm ever so fit and so fast that the *bike* is holding me back, then maybe it's time to upgrade, but I'm far from it!