Similar experience with mountain biking for me. In college I bought a $600 hardtail because that was my budget. Didn't know or care that it had a coil fork and mechanical disks instead of air fork and hydraulic brakes. And at the time it didn't matter. I rode that thing well beyond its limits, and as I got better at riding and working on the thing I upgraded parts as I could afford and figured out why those parts are better.
After 10+ years on that, I could afford a full suspension bike. I knew what I needed and what parts would fall into the diminishing returns realm. I've been riding it for 5 years and have made some small upgrades (and had to replace a few parts) but I regularly blow the socks off riders on 2-3x more expensive bikes.
My bike does have limitations and if I could afford it I would have maybe 2 more, but as an all around bike and someone who rides all sorts of terrain it gets the job done just fine.
I've also had friends who bought expensive carbon bikes when they're starting out and once they realized that skills are much more important than the bike have regretted spending so much.
After 10+ years on that, I could afford a full suspension bike. I knew what I needed and what parts would fall into the diminishing returns realm. I've been riding it for 5 years and have made some small upgrades (and had to replace a few parts) but I regularly blow the socks off riders on 2-3x more expensive bikes.
My bike does have limitations and if I could afford it I would have maybe 2 more, but as an all around bike and someone who rides all sorts of terrain it gets the job done just fine.
I've also had friends who bought expensive carbon bikes when they're starting out and once they realized that skills are much more important than the bike have regretted spending so much.