Most tech jobs could be done on a $25 ten year old smartphone with a cracked screen and bulging battery.
That’s exactly my point. Underspending on your tools is a misallocation of resources.
Overspending on your tools is a misallocation of resources. An annual $22k spend on computing is around 10-20x over spend for a wealthy individual. I'm in the $200-300k/year, self-employed, buys-my-own-shit camp, and I can't imagine spending 1% of my income on computing needs, let alone close to 10%. There is no way to make that make sense.
Yes, you don't want to under spend on your tools to the point where you suffer. But, I think you are missing the flip side. I can do my work comfortably with 32GB RAM, but my 1% a year budget could get me more. But, why not pocket it.
The goal is the right tool for the job, not the best tool you can afford.
That's a bizarrely extreme position. For almost everyone ~$2000-3000 PC from several years ago is indistinguishable from one they can buy now from a productivity standpoint. Nobody is talking about $25 ten year old smartphones. Of course claiming that a $500 laptop is sufficient is also a severe exaggeration, a used desktop, perhaps...