Most people are impulsive consumerists, and idiots. I've known so many people who are perpetually cried about being broke all the time, but always had the newest phones, were paying off expensive cars, and splurged on all the shiniest new game gadgets or magic cards.
Cobalt has said several times that he wont talk to people who have phones that are less than $1k.
Personally, I tend to buy most of my gadgets as "last years model" or "factory refurbished" both if I can pull it off. Why spend 700+ on a new phone, when you can get LYM for less than 200 and its essentially the same thing as the newest one. I think I've had mine for around 4 years now, and I'm just starting to think about replacing it once the battery needs replaced again. The same rules apply to just about anything electronic that I buy.