It might make zero sense as a buyer but as a manufacturer it makes a lot of sense. I would guesstimate that most of the margin is made on luxury and add-on features. A good example of this is rims: larger rims don't change anything for a daily driver, but you can add them as an option for a considerable premium. Same for many other add-ons and they're still bought very often. In addition to this, while there definitely is a certain subset of the market that would appreciate a product with considerably fewer features, my gut feeling is that it's the same in automobiles as in tech — it's a very small part of the market.