Yeah I agree with you, but you need to consider kid's who go to school and can be outcircled in social groups if they are not wearing a certain brand which can lead to bullying, there are so many factors to consider. I don't agree with it but UK and US schools can be pretty hard, you either fit in or don't.
I think there's got to be a fair balance. And ££$$$€€ is the main factor. Some parents that can afford to may just buy their kids designers all the time and the rest need to balance it, and yes always thank Allah and make them aware how hard mummy and daddy need to work for this.