I think what's rubbing people the wrong way on this thread is how you have been particularly derogatory to posters like @Dragonscaledaisy. You asked a question – assuming it wasn't rhetorical, then why not actually found out why people love these bags and listen with curiosity? Rather than just being snarky and presumptuous?
A great majority of people, if they have the money, will drop £££ on something that they personally see value in and/or get joy from – the big house, the swimming pool, the kitchen remodel, the car, private school. And then the numerous luxuries that are more invisible but still see you spending the equivalent over a decade, such as the £75 a month gym membership, luxury hotels, beauty treatments.
You can scoff at any and all of these as being 'worth it' or not, but why hold wearable luxury items to a different standard? Or perhaps you just hold them all to the same standard, in which case, where does it end?
I would tell you, from a personally perspective why I like luxury bags so much, and also why I think Hermes in particular is at the top end of price, but I don't think you're actually interested. You just want an echo chamber in order to make yourself feel somehow more worthy.