I was recently tempted by an Olamic. Yes, luxury is part of the appeal. Would it be something I'd use often? No, probably not. It would come out on special occasions, or just when I feel like enjoying the luxury. I'd no more take it rock climbing or use it to cut up a bunch of dirty cardboard than I would do those things in my best suit.
Even now, my Civivi knives get lots of use and carry while my WE knives are a little more "fancy dress". They get used if tasks come up as I'm carrying them, but I won't choose them on purpose for a dirty job. Yeah, there is a case to be made for the irony in budget knives with budget steels getting tons of use while the knives with super steels and higher edge retention don't see the work they're designed to take on account of being fancy or expensive. (It's a bit like the guy who keeps a high-end performance car in the garage most of the time so it stays nice.) Still, having something like that can bring a little joy and it's nice to know you can use it if you need to...
That said, do you have any other issues with Olamic? Is there anything about the designs or build quality you don't like? Better yet, if I just put similar mods on a $200 WE that I already like and already has great action, fit and finish, etc.; would I be missing anything versus something like a Wayfarer?