Renovation isn’t the hobby here, they’re not doing it themselves. But a passion for cooking justifies the high end kitchen. An interest in architecture and design justifies bringing good examples of it home.
But people often conflate "investment" & consumption when its anything related to home renovation. I'd still argue these types of "hobbies" are 90% consumption, and for most of the people I know.. usually financed with loans.
No one I know with a $100k kitchen cooks any better than my poor immigrant grandmother did.
I also have a restaurant grade toaster. It costs quite a bit more than the usual toasters do. But the usual ones would always break after a year or two. The restaurant toaster makes better toast, and has worked fine for 25 years now. It was actually cheaper to get the restaurant grade one over the long haul.