I think what is closed-minded is to act like we assume that most people have "more or less" the same resources, and "more or less" the same range of disposable income. I say "act like" we assume that, because I know we are smarter than that.
The most expensive knife I own is worth around $200 or less. I could afford more expensive knives, but I have other priorities, limited resources, and none more expensive right now that are "calling my name". I've had more expensive knives in the past that I sold, simply because I wasn't using them. They were safe queens.
But I remember a time when the most expensive knife I owned was worth less than $75, and I was extremely happy with it, and hesitant to use it. Because at the time, I wasn't sure if I would EVER be able to reasonably afford anything more than that. I think it's pretty arrogant and borderline obnoxious to talk down to people who are concerned about their "inexpensive" knives that cost $300 or less.
Some of the worst excuses for human beings and biggest wastes of oxygen I have ever known had a ton of money. Some of the best people I've ever known were dirt poor. If you judge people mostly based on their socio-economic status, in my opinion, that means there's something wrong with your judgement, if not your character.