Relevant to me, what's the obsession with expensive guitars? There are endless videos on YouTube showing the contrast between guitars that cost just north of $100 USD and others that cost well in the excess of $4,000. They tend to show while there are differences in the sound made, they aren't worth the substantial price difference (even if the reviewer will start gushing about how amazeballs the more expensive ones are). If you want good examples of this, look at Anderton's Music's channel where they do this many times. Rob Chapman, a man who builds and plays guitars professionally, frequently struggles to identify how expensive a guitar is based on sound alone (more often basing his admittedly correct guesses on build quality and strong familiarity with brands). Lee Anderton, a 3rd generation guitar retailer, often states he can't keep himself away from the high-end stuff even though he struggles more than Chapman to identify which guitars cost more.
People are also often under the impression their guitar gods use only the best of the best and are surprised to learn most of them got cheap guitars second-hand (Clapton, Vaughn, Hendrix, Page, Slash etc). It's not uncommon for officially-made replicas of these guitars (complete with perfectly replicated damage) to cost 10x + what the original cost.
The reason is the public deems it so. The public deems it so largely due to successful marketing campaigns which tend to perpetuate themselves. What do you think of when you think "Mercedes?"