On Wine Snobs, Is what you bought worth the money?

Why would you pay $50.00 for a California Pinot Noir so jammy that it almost hurst, I wondered last week after tasting one?
For the same money or even less (with a week dollar to boot) you could get a great Burgundy or a more balanced Pinot Noir from Oregon.
Are some of us treating small wine labels the same way that rabid music collectors flashed their rare and obscure discoveries?
Is it not so much for its qualities but for its exclusivity.
Are we turning into wine snobs?
Shouldn't enjoying good food and wine be a fun thing?

Thinking aloud on Tuesday!

Related: Are foodies self-centered? 'The Agony of a food snob' by Daniel Gross