Well said. I agree - a bag is a treasured item. It's a reflection of one's personality, style, and - to an extent - status.
For me, my handbag is a reflection of my mood, my feelings on a given day, a look I'm going for. There's a lot that goes into what bag to carry, and it's not solely based on who the designer is. Despite that many people covet all three, there is a huge difference in the look you achieve whether you're carrying an Alexander Wang Rocco, a classic Hermes Kelly, or a bright yellow PS1. I don't think anyone would argue, though, that all can be status symbols.
Buying a beautiful, well-made handbag, in a sense, is no different than preferring a luxury car or a nice home. If a home is simply a place you sleep, or a car is simply a form of transportation, then a bag is just a thing to carry your belongings. As human beings, though, we know this isn't true. We look to invest our money in items that we get joy out of, that will last us, that will fit our personalities - and our budgets. Any item can be simplified, but for those of us interested in fashion, we know our bags are so much more.