Expensive sneakers are seen as a sign of "success" in "da-hood". If you have expensive stuff (sneakers, jewelry, cars) you are seen as "successful" even if you are in debt to acquire those items and you own no assets of any real value. All about the appearance of 'perceived' wealth.
I never bought into the whole “appearance of wealth” thing we do in the USA. I live in an area where you basically can’t tell by outward appearance who has money and who doesn’t.