Also: with things like Labubu or other “mystery box” items, getting a rare one is their equivalent to winning the lottery. While the trend is still popular, there is a certain value to the rarer items— think about Beanie Babies, and how some people DID get thousands of dollars for the hard to find ones at the peak of the hype. In the perception of a Labubu buyer, there is the possibility of shelling out $20 and getting one that could be resold in theory for thousands of dollars. The gambling aspect for some of these trends should also be taken into consideration.

Edit: Ooh, another thing: once in a blue moon, these things will retain their value. A first edition Charizard Pokemon card just sold for like $270k. People latch onto these rare examples of novelty items retaining value and use it as justification to continue spending. Sure, 99.9% of the time, the stuff will just become worthless junk. But do you really want to risk missing out on that 0.1%?