People buy bass gear for a number of reasons:
They like the look.
They like the sound.
They think it's better.
Their hero plays one.
That's all they can afford.
They joined the club.
They joined a tribute band.
They have a wad of cash burning a hole.
The became a session bass player in New York.
CNC and automation has made the bass we play pretty irrelevant to the sound we make. The players from the 50's, 60's and 70's etc, would still recognise the basses we play today, but the bass gear, amps, cabs and pedals have totally changed the game.
In reality, all the songs I've played in the last 30 years could just as easily have been played on a second-hand Squier, Sire or Sue Ryder bass, and would have sounded just as good to an audience, and many of the bands. The basses I bought were actually my vanity project. I'm sure I'm not the only one.