It's not just financial. If it was financial, we'd see a lot more Hondas and Fords and Hyundais on the road and a lot fewer BMWs and Mercs and Porsches.
If it was just financial, Badge wouldn't be driving a fancy-ass Merc and lusting over a Porsche Macan. He owns vehicles like that because he likes them and has the means.
If it was just financial, Lexus and Acura (and Lincoln and Cadillac) wouldn't exist. They're just an upbadged Toyota/Honda/Ford/Chevy. But they do.
I'm very utilitarian when it comes to cars. But even for me when family changes forced me to move up from the truck, I bought a Jeep Wrangler Rubicon. Did I really "need" the Rubicon model? No. But I wanted it. When I got divorced and didn't have access to a family minivan and needed something larger than the Jeep, I bought a Ford Flex Limited because I wanted the upgraded sound system and the panoramic sunroof in the back seats (and because my soon-to-be FIL had an SEL model and I wanted the higher level trim). So even as a utilitarian I've spent up for unnecessary things.
There is an emotional component to buying a vehicle. For some people, there's value and they WANT an EV. Maybe they want to be seen as ahead of the curve. Or maybe they view Tesla as "cool" in the way that Apple folks think Apple is "cool" and not just another damn phone. Or maybe they think they're doing something good for the environment.
Or maybe they just hate filling their car with gas every week or so and like the idea that their car has a "full tank" every single morning they wake up because they plug it into their charger when they get home the previous day. It's like your cellphone. Plug it in at night and it's ready to go in the morning. People make it sound like charging an EV is the equivalent of trying to find an outlet to charge your cellphone, in a crowded airport, in 2012. Yeah, if charging an EV was like that, it'd be hell lol.
As I've said, when my next vehicle purchase comes up, an EV is within my realm of consideration. The financial bit does weigh highly for me with vehicles, but as I mentioned above, I up-spent for a more capable off-roading vehicle than I needed for someone who almost never goes off-road (and hasn't been anywhere the "Rubicon" package mattered), and up-spent for a more full-featured trim package than I needed in the Flex. So if it comes down to it and I decide I really WANT an EV? I have the means and I'll buy it.