It's American consumerism fueled by available credit.
What's really fascinating is that what you said applies to McMansions, and ... private aircraft too.
Cessna cancelled their basic $300,000 new 172 because people were only ordering the $400,000 glass panel model. The price is so high they took it off the website for the first time. (And older pilots were expecting it come in at $80,000. lol.)
Cubcrafters makes composite Cubs(!) that are priced starting in the $190,000 range for LSA and $317,000 for Part 23, and again, mainly sell the maxed out versions.
There are cheaper new cars...but people seem to choose cars with an ever inflating numbers of features.