I think buying more inexpensive knives of quality (Mora, Buck) and more mid-priced knives of quality (Benchmade, Spyderco, ESEE, Becker) is way better than fewer or one really expensive knife. Very broad statement obviously. The thing is, an expensive knife is just as easy to loose as a cheap one. And with cheaper knives, there are more to fondle, experiment with different edges, etc.
There is no right answer. I find myself happiest with knives that don't cost a tremendous amount of money and If you know what you are doing, you are not getting very much less knife. I mean the margin of utility gained going from a Becker to a Busse is miniscule compared to the cost difference. I remain unconvinced that you are getting a cooler knife frankly. One does purchase some bragging rights I suppose but the Becker (just as an example) is a pretty decent knife to form a boast around!