Exactly - the bags with big logos and branded patterning tend to be on the "lower end" of the cost scale for designer bags so people on more modest incomes can still flash around something from a brand that looks expensive. The high-end designer bags are often very subtle as they're not making the point of "look how much I have and look what I can afford", as only other people who know the brand, the bag and the designer will recognise and appreciate it.
I know a man who is a watch dealer and I used to think that Rolex was a high-end watch brand but after speaking to this man, I can see that Rolex watches are the same as the "designer" bags with the big designer logos and branded patterning. The "upper-class" old money don't tend to wear Rolex watches, they tend to be a new-money purchase as a status symbol.
Some of his watches are sold for £150,000-£170-000 which is a staggering amount of money, I didn't know there were watches worth as much as that, however when you look at these watches they don't have fancy logos, they're not flashy and sparkly, they haven't got diamonds on. They're in the group of "if you know, you know", so someone wearing this watch will only have it noticed by other people who are into high-end watches.
I guess it's almost like owning artwork, it isn't to make a statement of wealth but rather owning a piece that other people with the same interest can appreciate. It's about the craftsmanship and history of the watch/design rather than the actual brand or logo to show you can afford an expensive watch.
I will add though, none of this applies to me as I'm not well-off and can't afford a Rolex nor a £150,000.00 watch even if I wanted to haha, my Argos one does well. But for someone with millions of pounds in the bank who has a particular interest in watches, bags, cars etc, what seems like a ridiculous sum of money for most of us is seen as an investment for others when purchasing things that increase in value over time.