That is the reality of pretty much every "luxury product/brand"...

It is convincing people to pay a premium for what is still at the end of the day a stitched leather bag, watch, computer or smartphone made in factories like everything else.

People pay for names, to project their luxury lifestyle.

It is very rare that the actual quality/performance of a "luxury item" is dramatically above a high-quality equivalent. Does a Rolex tell time and look better than a Breitling? Or a Tag Heur? Or a Seiko? Each of those represents a different price/style point - and ultimately it is subjective to a consumer - who wants to project a certain style/look.