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So the real answer is... if you're just starting out, go mid with your gear investment.
It depends.
It's the reason I stopped making so much fun of people that recreate the "MAMIL" trope - "Middle Aged Men In Lycra". Meaning men who start their midlife crisis buying an expensive bicycle with neon-colored bicycle clothes and bicycle glasses and all the other stuff.
Why don't they just start riding their bicycle they already got? They can use their sunglasses and normal sport shorts. What's the problem?
But I some cases or age-ranges people want to make a change and get out of their usual habits. A real phase shift. People think they want to work out more regularly. Or really start a new hobby. Buying a bunch of expensive stuff can increase the need to go through with this phase shift - at least in the minds of the people buying it.
As an adult picking up a new hobby often means that other things in their life have to make room. It's usually not that adults in their (let's say) mid 30s until early 50s have problems filling their day. So whatever new hobby or task they want to do has to push away other habits and stay there until these new habits can take root.
So starting with some expensive shit can be something I can understand - if one has the money.
If I would start making music again, I'd probably start by buying an expensive synth like the super-6 from UDO (that I always wanted to buy) instead of a bunch of bleep-bloop-machines that need a lot of initial time for understanding them and then only fulfill one specific function in my music.
I know it's probably not the opinion you're looking for but I want to let people know why people go with lycra and high end stuff.
Because it makes the hobby so much nicer. Bib shorts decrease discomfort a lot, riding in a sweaty warm cotton t-shirt is also not fun. A good bike weighs a lot less than something you already have (and I'm not talking weight weenie, oh this weighs 500g less so I will dump all my money into it).
For hardware tools, buy cheap. If you use it enough to require a replacement, replace with expensive (i.e. quality).
Aka: the harbor freight method. I'm a big proponent of this one.
The exception being PPE and things with a dangerous failure mode like a car jack. Buy mid for them.
In reality, buy whatever you can afford, don't give a shit what others thing. Enjoy your life.