I have had five cars in my life.
Sum total spent buying them would just about buy frame, wheels and front brake of race-bike.
It's all about priorities.
No qualms spending over £5K on my bike, could never justify that for a car, nor indeed afford a car that cost that without selling said bike. (first car cost as much as the gear cables on the current race-bike!)
Having said that, I've mostly driven cars costing a couple of hundred, until my most recent which was couple of thousand. Drove a Ferrari at a track day, I can see why people buy them, and can justify £150K if they want one that much. Same with bikes I guess, £500 bike is great until you ride a £5K all singing one and realise the difference.