For me, I just seem to like expensive stuff no matter what it is. Do to whatever aesthetic/customization preferences that I have. So I tend to go overboard on making sure things match whatever goal I have. Sure it is possible for me to kit out a cheaper bike to have everything I want. But it is much easier to get a more expensive one that is more suited with less work.
You can absolutely be a "cyclist" with inexpensive gear. And you can also spend more. It is up to you to decide if the more is worth whatever gain you expect out of it.
Right now I am diving in with a custom bike (even though with some looking and compromises I could get a custom build) because:
1. I want to choose everything down to small details
2. I want to learn more about the design/how it works
3. I like to support small businesses
I am super excited, because it is a cool new thing to learn. I tend to be a person who chooses a topic and goes really deep in on it.