When I was young, I couldn't justify the cost. Now that I'm a bit older I could afford it, but I can't spare the time for a hobby. With kids still in child seats, I had to stick with a practical car.
When I'm 50? The kids will be old enough to sit up front. I probably still won't have a lot of time for a hobby, but I do have money now.
Buying a midlife crisis car doesn't mean that you feel it's a rite of passage. It doesn't mean someone felt like they had to. It might just mean that for the entire first half of their lives, there has always been a reason to /not/ buy the expensive toy they wanted. They finally treated themselves.