It's kind of hilarious to me when the tech world collides with the high-end fashion world. On the one hand, I get how absurd this seems from a tech perspective. On the other hand, dropping a couple hundred dollars on a fashion item that will be trendy for a season among a certain group... it's no different from any other high-end fashion accessory. It's just that the two worlds so rarely overlap.
The fashion world's biggest sellers are handbags and shoes, which are practical purchases and tend to feature pretty intricate design details. This is a Speedo for a phone, and it makes Apple's already over-the-top descriptions of its products sound even more absurd.
I don't like either of these two worlds. Yes, plenty of people will buy an expensive laptop/desktop that's only ever used to run benchmarks. If anything I could admire the $5K bag more if it's actually nicer than the cheaper ones, but a lot of the time it's not.