Hmm. In my experience, there's a few factors.
Envy/jealousy is a big one. I hate when people try to tell others how to spend their money and act like there's a "right" and "wrong" way, and by buying designer bags, that's the "wrong" way. LV is a designer that will continue to be popular..I mean, if it's been around since the 1800's, they must be doing SOMETHING right. I own items from a lot of the lines, including vernis, monogram, multicolore, epi and damier and love them ALL. You can own LV and buy some of the more subdued patterns such as damier or epi..even the vernis sometimes since you tend to see the color before you see the logos. Either way, it's your choice. I have a friend like that..she spends her money on designer makeup and gets massages and does spa days weekly, yet thinks spending money on designer bags is crazy. It's just a trade off..I don't do any of that kind of stuff..my makeup is mostly Maybelline with the exception of my Dior mascara, so by saving in one area, I have more money to spend in another area. One girl who doesn't like me that much (because of a guy, stupidly enough) actually said, "anyone who spends that much money on a bag needs to have their mental synapses checked because they're definitely lagging." Who is she to say something like that?
So with that in mind, spend your money how you want to spend it and don't let other's opinions influence you or make you feel guilty. You only live once!