Are Pistonheads Pimps?

We're not quite sure how this turned into "Pimp Week," but we're not going to dig too deeply. Today's questions comes strait outta Compton yesterday's QOTD comments. Reader Mehugtree asks the following:

Isn't it pimping to spend 10K more on a car than you need to? Do you really need that BMW over that Camry? They both do roughly the same thing, but the BMW is definitely more of a status symbol. You may claim "oh, no, the performance is sooo much better," but really, do you need that performance? Isn't it pimping to add something you don't need just because YOU think it's cool? Is giving 10K to BMW to pimp inherently [sic] better than spending whatever amount and doing it your own way?
While we're not in a agreement, we do understand his point. Performance cars, when mostly used for commuting to 7/11, are as ostentatious as a purple Escalade with gold rims. But, as Richard Belzer's buddy Ice T once said, pimping ain't easy but somebody's got to do it. You?