So you're not allowed to ride a nice bike if you're not fast? You have to ride a cheap bike, even though you may make $100K?
If they have the money, they can spend it how they like. There are no qualification tests to buy nice bike stuff. Until there are, forget about it.
I think the point he was making is if you spend more than you "need", then it's probably some sort of hobby. I'm sure there are exceptions to that. If someone can buy a Corvette to go to work and do errands with, I'm sure someone could spend $2000 on a commuter bike to get 5 miles to work.