I have one custom made rod over $400, I use it for blade baits. It's made by guy who does it part time and has big following with 4 plus month wait. With a custom you get exactly what you want - everything from size, handle type & length, to color to action and everything in-between. For example, mine was built on 7'6" Point Blank blank cut down to 7'3", it's made for exactly what I wanted it to do.
I have mostly Dobyns, Megabass and another semi-custom rod but neither is in class like this. Its ability to throw bombs and insane sensitivity is unparalleled.
Now with that said did it make me a better fisherman, don't know, but it really increased confidence and I now use and have much more success with bladed baits than before i had it. It's just so sweet and so much fun to fish, it kinda has feel like my Megabass Aaron Rogers spinning rod I use for finesse baits but has other design advantages and fishes up to 3/4oz.
Now why did I buy it? I'll quote Darren's response...."because I can". I don't say this arrogantly but I know it sounds it. It's just that I am at the point in life when disposable income is more than when younger. I would never buy a rod this expensive when I was in 20's, 30's, or even 40's. But I am 54 almost 55, our financial house is in great order so I do have disposable income that allows me to enjoy some finer things without blinking.
Do I need a $400 rod with reel to match? No, but I enjoy the search, interaction with builder and fishing with rod that I helped design. But really I could fish with sub-$100 rod and still catch fish so the argument can be made why buy a $300 or $200 or $150? Heck, I go to my little pond sometimes and struggle and down the bank are a group of 12 years olds having a time of there life using walmart bought setup and catching fish under bobber/worms....
I used to collect and target shoot 1911's several times a week. Fishing is cheap compared to some shooting sports, so I figure now that I don't shoot so much I am actually saving money:)