My soldering ioren is a basic unit. It plugs in, gets hot - way too hot- and burns everything it touches. It also has no control or anywhere to put it, or clean it, or whatever. Not that I use it very often, but when I do, I want it to not be a problem. So I treated myself to a good one.
I once knew a guy who had an amazing tool set. He was an amazing mechanic. He built drag bikes, among other things, when he felt like it and I think was working up a twin-turbo V-max. I figured out that when he needed a tool, he got the best one for that specific job, and used it, and put it away clean and cared for and ready for whenever he needed it again a decade later. If I keep going like this, I’m probably going to be that guy in the future, without the drag bikes.