I agree with your point, but even items like an Apple Watch or iPhone have some signal, just much less than something like a Ferrari. Signal also differs based the group the person is in. I know many on HN think they are immune, but still buy the 100 core latest CPU and talk about it online for example.

Finally, LVMH may be critical of Apple in this article, but they would love to be in their position. Apple has mastered the art of selling things with Toyota volumes and Ferrari margins.