As lipstick enthusiast, I've had a mix of budget and high end lipsticks. Some high end are worth it, some not as much in terms of intended functionality (preferences may vary!). I could go on...
The one that has the most value of money for me - it seems to be MAC Twig. With almost daily use it lasted 3 years (it was before I started hoarding other lipsticks for fun), most effortlessly perfect natural shade, it has strong pigmentation and didn't require much reapplication (which often isn't the case with cheaper lipsticks I found). And the bullet doesn't melt and break too! (looking at you, Guerlain, Kiko Milano, Lisa Eldridge, Chanel!).
My £50 handbags lasted less!
Some choices may come across as incredibly frivolous - Gucci one in shade you barely wear but got carried away because of packaging. But who am I to judge 🙃
Some brands genuinely understand colour theory and have wide range of wearable shade selection (Charlotte Tilbury, Lisa Eldridge, MAC), whereas with some brands mauve is like teenager picking colour from Photoshop palette an call it a day.
There's also time-cost to factor in...you got a perfect shade but it's Chanel (and bought from Chanel because of being lured in by shiny glam counter, easier experience of swatching things in Boots and you got lucky with assistant great in colour theory helping you picking), then finding cheaper alternative may be just lots of time spent comparing, youtube reviews...etc., esp if you don't have all the experience to understand all vague descriptive terms like 'buttery, velvety, blurring effect waxy finish'. Do that for choosing washing machines or cars, not lipsticks)