I tend to believe that showing off/bragging/boasting in SOTD is a phase. Many new comers who discover a new passion buy the expensive musts (not that much on this forum) and like to show them to the others like kids with their new toy. It has to do with some kind of need to be recognized and after a while the need to impress will vanished eventually.
Personally I enjoy much more a nice photo with either cheap or expensive pieces as a whole composition than the content itself. Sometimes I even suspect some people to buy expensive gear just to match the others items (in theme, colour, etc).
I see where you're coming from here - that being said I initially took no photos but thereafter focussed on composition or layout rather than what items I specifically had there. I've bought items for my own personal use and to suit me needs/wants, whether that be on colour/design/shape/reviews/ability etc. I'd
rather spend less on an item if I can, having bought almost all my items second-hand, so cost is irrespective. Similarly, I always buy within my means so ensuring I'm not out of pocket - I would not like this hobby to become a toxic one. I.e. I love the look of the ATT Calypso, with the black and contrasting blue, but I'd rather spend £20 on my second-hand RR Hawk and 'upgrade' it with a £16 handle from Maggards. I cannot honestly justify the near-£100 price tag.
I think a lot of people, especially the younger generation, are guilty of fuelling their need to be recognised, as you say. There's a culture of 'likes', 'follows' and 'subscriptions' in almost all aspects of social media, and the significance, or focus, is larger now than it has ever been. There's been discussion of social media status (being 'liked') causing an endorphin response, so triggering a hounding for additional 'likes'. It's akin to eating something sugary, getting a positive hormone response and hence craving sugar.
Either way, I don't particularly mind if someone likes or dislikes my photos, text or equipment. They're welcome to their opinion and I'm happy to voice my thoughts and spend the time taking the photos for my own satisfaction. Ultimately, the items
I own
I like. The photos
I take, which
I've composed,
I like.
The cost of the items featured in other's photos doesn't come into it much for me. I'm getting to the point now where I can see cost distinctions, as I familiarise myself with brands, but for the most part I can't particularly distinguish between a £50 razor and a £5 one (take the Futur vs Mingshi example), so I base my enjoyment on the look of the equipment, the composition of the photo and (if any) post-processing.
Tl, dr; So much of this is subjective, from cost to photos, or indeed text.