My dealer says he has three types of customers.
(a) The knowledgeable hifi enthusiast who is always buying gear.
(b) The knowledgeable hifi enthusiast who never buys anything.
(c) The knowledgeable hifi enthusiast who buys something and is never (or rarely) seen again.
I am type c. I have had hifi as a hobby for about seven years, and I have only upgraded two pieces – I am on my second set of speakers and my second DAC.
I did go through a bunch of headphones a few years back, but I am now happy with what I now have.
C for sure. If I spend a load of money on some nice gear I make sure it’s something I’m going to want to live with for a long time. I just don’t have the money to keep on buying new stuff, so I do my research and buy very carefully.