The video didn't teach me anything new. Every successful businessman has learned how to make money from human nature because human nature is mostly predictable. Very few players have the personal strength to stand up to a jam full of musicians who make fun of his instrument. They will either stop attending jams or buy an instrument that the crowd approves of. Its very hard to say, "Screw you guys, what I have is good enough."
If you think about it, human history has mostly been about the pursuit of comfort. Royalty and the clergy first attained comfort, then the merchant class, and then in developed countries comfort trickled down to just about everyone. But once you are comfortable the pursuit is distorted into a desire for luxury. Life is good once you are comfortable, but luxury lets everyone else see how comfortable you really are. It becomes a race from which only strength of character can spare us. Thus, an $8000 electric guitar MUST be better than a $400 instrument. Sorry, but no. The expensive one is only more luxurious.
A young friend of mine went to see a blues musician who was playing a Jeff Traugot guitar. He told me, "There's something so wrong about playing the blues on a $20,000 guitar." If he can keep thinking like that he'll have a comfortable, worry-free life.