The reason is that the functional obsolescence of a product is often more important than its quality or durability. Home appliances and electronics are a perfect case in point. I have a television that still works even though it is probably 25 years old. One of its attractive features to the original buyer is that it has a built-in VHS system. But even if this thing "works," it is sitting gathering dust until the next electronics recycling date in my town -- because it doesn't have any more value in an age when DVDs and web streaming have replaced VHS tapes.
When you purchase something, think of the life cycle of that product in terms of its useful life, not just its physical durability.
OK, now I've heard everything, Free Traitors™ are a creative lot I'll give you that.
>> it actually makes sense to buy a product that is considered “inferior” by most objective measures <<
Correct. I’m old enough to remember how electrical engineers in the TV industry kept telling us consumers that Beta was better than VHS. I bought VHS and am still using it!