For example someone invites you on a hike but you can't fit decent hiking boots in your two suitcases. Or someone invites you to a semi-formal dinner but you can't fit a proper evening jacket in there.
You can't even hire boots as they need to broken in.
I could never justify owning even a cheap set of golf clubs, pool cue or bowling shoes, but I'll never turn down an invitation by friends or family. If I do something rarely, but still enjoy it, I'll treat it like planning and budgeting for any other night out or holiday.
And you can turn up at people's parties dressed however you want, but they may not invite you again if you disrespect them by ignoring a reasonable dress code.
So yes I see you're trading experiences.
Where is the line between minimalism and simply being inappropriately dressed and ill-equipped.
- Chris Townsend. Author of "The Backpackers Handbook"
In the above example, occasional hiker would be much better off with good hiking shoes. While a well-seasoned one could do same hike in dress shoes, sneakers or whatever. On the other hand, a seasoned hiker is more likely to have the good shoes and use them just for the sake of comfort and safety.