Why do people prefer to buy expensive items with high premiums?

Expensive items are not necessarily better than cheaper ones.

But they definitely won't be worse than cheaper ones.

Brand premiums are already very high, do they really need to perform worse than cheaper alternatives?

Just like buying a car, would a car worth millions use materials that are worse than a car worth 100,000?

The same reasoning applies to cryptocurrency and platform choices.

With the existence of Bitcoin and Ethereum, my first choice will definitely be one of these two.

With Binance available, my first choice will definitely be Binance.

Does this explanation help everyone understand?