Festool is aimed at the professional market, not the average hobbyist. Most of their tools are unique in some way that differentiates them from other offerings on the market. Superior dust collection is kind of their calling card. But they also offer several tools that don't have an exact or near equivalent on the market, like their Domino machine. For a professional woodworker, sometimes these unique features can present enough savings in labor costs that over time, these tools will pay for themselves. So a Festool might be cheaper in the long run for them. And for someone working, or attempting to work, as an influencer, having drool-worthy tools can increase views, income, and prestige. So they might benefit more from the name association than the physical tool itself.
But for the average hobbyist, you're not likely to ever recoup the cost differential. This is because you can easily get a quality that does what you need and lasts just as long as a Festool for a lot less from a different brand. So they don't make sense for everyone in every situation. And some of their tools aren't even as good as some other offerings on the market from different brands. Not everything Festool is superior, like their miter saw. Buying quality tools doesn't automatically mean buying the most expensive tools.
And yes, cork sniffers love Festool too, and probably account for a pretty significant portion of their sales. Some people, if you can believe it, actually spend more time collecting tools than using them. But it's their money, and perhaps they get more joy from buying things than doing things. And as long as they're not hurting us by doing that, it wouldn't be right for us to judge.