Is less really more?

Okay so I was talking to a random fashion friend today they tried explaining to me how over break they discovered that they really don't need a lot of clothes. They have adapted a new feeling that as long as what you have is luxury and really well made then they will carry you through what you need. I can't decide if this is really true. On one hand I feel as if what's the point of having so many low brand shirts that you don't know what to do with if you aren't even going to wear half of them. Or the other side as if you only have a few great tops how many times can you recycle that same top? I know the answer to this. There is none. That is why there are so many Forever 21s and Chanels in the world. People will never have to fully answer the question which is the great thing about this world. Right now I'm so halfsies on this. I have those great pieces that was a huge splurge that I know will be in my closet forever, but at the same time those 5 dollar tops can be just as good.