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@JamesNQ
I think a nice bike has to 'feel' nice, too.
I have never raced and I never will. I can keep up with most riders on a club run (even the faster ones) but I just love getting out on my bike by myself mainly. I like the high-end kit because I love the technology, brand history and it's an accessible way for me to have a nice 'toy' without dropping crazy money on a 2nd car.
For me, this is how a bike feels nice;
. The correct size for you (obviously)
. Quality bar tape
. Compact drops
. Super sharp brakes with next to no travel in the lever before you start braking
. Metallic 'clunk' in the shifters, and being able to feel the chain move throughout the whole frame
. Rigid bottom-bracket when climbing
. Super low rolling resistance when coasting
. Noisey freehub - I love pedaling backward to make it noisier when I'm just coasting along
If you whack Dura Ace mechanical on a CAAD10 frameset and a decent quality wheelset, maybe Campag Shamal at a minimum, and then a set of GP4000 tyres with the correct pressure and the bike fitting correctly, this will probably ride as nice as something maybe £5k?
Obviously, it won't be as aero, but for someone who is just doing the occasional club run or even chasing those Strava times, it would be perfect.
I guess it depends on what your goal is, what your wallet can handle, and even as far as your world-view and what you value from life/objects.
Wanting a bike that looks nice or has an Italian pedigree is still a goal to be met. If Ribble made a bike that rode 100% the same as a Colnago C64 , but 1/2 the price, I still wouldn't want it.
Strange how we value things, I guess.