"As has been said here before, with a conversion you trade time, effort, and thought for money. Some people have more of one than the other. Everyone would like a bike with boutique parts. Some people will ride what they can and are less concerned with the psychosomatic BS."

That's certainly true, but there's also the group that has more money than time.. but values owning something they've built up themselves more than either of the two. Sure I could go out and pick up a Sputnik, but I'd much rather browse Craigslist looking for either a nice 531 frame or one that just straight up appeals to me (bright yellow Varsity? yes please) and work on it myself. Sure I know it will probably be months before I finish stripping them down, building the wheels, and putting it all back together.. but it's not like I don't have other bikes to ride in the meantime. If I had enough time, a bit more skill with a torch, and access to a metal shop again.. I'd weld my own frame (even though it would likely mean catastrophic failure & an awe-inspiring crash).