Consider, there are cars that are perfectly serviceable used or for less than 15k. Yet many people are aiming for cars from 20 to 50k. Then there is housing. Look how well treating housing as an investment worked out last go around.
College is an interesting one. I always cringe when I hear of folks taking out 100-200+k loans for college. That just blows my mind, and has led to both a sense of entitlement for higher wages and general wage inflation.
Though, my economic acumen has reached its end in this post. I do not know enough to really speak whether these loans are terrible ideas.
Interestingly, I think this actually makes it somewhat applicable to the technological debt as I framed it. If the majority of your value add is in leveraged technology, then you will have a hard time of it. Where these lines are between good and bad debt, I do not know.
Cars are often necessary for transportation. I don't have one, but if I was living in the states they could help me save time and get to work (where I make money). Of course, there is a point where buying a used car with cash makes sense, but there is also a point where buying a car new under a loan makes sense (depends on loan costs, interest, car price, etc...).
Taking a loan out for college can make sense, considering the returns you make afterwards and the lower interest rates often offered through government programs.
I personally haven't bothered with a loan yet (consumer or otherwise, no house or car, but living in China is a bit different from living in the states), but I can see the utility of it.