Pretty much true. In addition to an interest in cycling, I used to be into high end audio, currently somewhat into shoes, watches, and lately, pocket knives.

Every hobby has people that take things too far. And it makes sense why. If one bicycle is good, two must be better, and so on to the point where you start thinking about needing a bicycle for every possible riding scenario, never mind that you probably ride one or two bikes 99% of the time. Same goes with shoes. Shoe collectors obsess over getting just the right shoe for the rotation, say something between a dress and casual boot, or whether a blucher or derby is appropriate to wear with a suit, or the opposite, whether you can get away with wearing a black or dark brown oxford with khaki pants. Then there is the world of watches, where collectors worry about whether they can wear a sport watch with a suit, or dare to wear a dress watch with jeans. Or god forbid, wear a cheap quartz watch to an important business meeting.
Now I am learning about pocket knives, and it is odd how many people obsess about this type of steel vs. that type of steel. Or flipper type tactical knives vs. traditional slip joint knives. And again, most people need a pocket knife or pocket multitool for light cutting tasks and pretty much any decent knife will get the job done, and there is no need to buy more than one or two, or to spend more than $50, and yet there are people who spend hundreds of dollars on a knife and own dozens, of pocket knives. At some point, the collecting becomes the point.