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So under this logic, why would you buy anything more than the extreme minimum? EVERYTHING you buy translates into 4-5 times its ‘cost’ in several years, so shouldn’t you be waiting to buy, well, just about everything?

Well, you've just enumerated Dave Ramsey's secret to wealth. Live well below your means and invest every penny you didn't spend.

True, but that point completely ignores any RoI from a consumer product you may purchase, as well as the 'pleasure' you may derive from a purchase. Do I need a firearm, or art for the walls, or an mp3 player? No, not generally, but they still give something to me. Firearm: security, peace of mind, and fun at the range. Does this produce anything for me? No, but I enjoy it. (unless, of course, your main use is hunting for meat). Art: completely worthless, but it makes your house look nicer. Aesthetic value. Mp3 player: helps when you're bored. Doesn't do anything for you, just something else that makes your life a bit more fun.