I personally never thought I would pay for a Louis Vuitton canvas bag. Fast forward and I own several of them. I just like the way the ones I purchased look and function (smooth zippers, sturdy materials, etc). When it comes to durability, we would probably be financially better off if we continue to purchase two $50 bags every year, replacing them every time they wear out. I think sometimes we use the terms “durability” and “investment” without really doing the math. What we mean is that we are buying bags that we love for one reason or another, whether it is the look, the feel, the name brand, and sometimes knowing that if we should tire of it, we can resell so as not to lose every penny that we initially paid. If you add it up, a $2000 + tax $160 = approx $2160. If I resell that bag 4 years later for $1000, I have lost $1160. $1160 over 4 years = $290 a year. This is just one example, but everybody has to do their own calculations to see whether it is worth it to them.
I normally prefer leather, and probably 95% of my bags are leather. But sometimes a coated canvas bag (or a nylon bag for some) makes sense. We are not always rational are we? Most people in the world would probably think we are irrational for paying more than $100 for ANY handbag, be it canvas or satin or nylon or leather!!