My reason is I'm too cheap, er, thrifty, to spend $1500 on a single off-the-shelf bass preferring to spend that same amount of money on 5 basses that are modding platforms for tonal variety.
ie. I'm cheap.
I only own 2 squires. One is an Affinity that is currently in parts waiting for me to get off my lazy
and get the finish done so I can pick out parts and make it whole again.
The other is a CV 60s P I picked up two months ago. I bought the CV as new old stock from 2010. It is a very good bass.
Now as to mods and dollars. Because the plastic was on the pick guard for almost 6 years, there was a spot just below and between the knobs where it didn't come completely off. In trying to remove it, I chipped a small spot on the pick guard, so it needs a new pick guard. So, I'm thinkin', well as long as I have the guard off for replacement, maybe an upgraded wiring harness, pots, and cap is in order AND as long as I'm in there, an upgraded pickup would be sweet. Oh, and while the strings are off, maybe this would be a good time to replace the bridge.
Then I started shopping the internet for what I want. It is a Fiesta Red, so I think a gold anodized would look great ($99). Well, the old guard has to go, but none of the $23 - $45 guards I see impress me for this bass. The wiring harness is lunch money ($18), so that isn't a big deal, but should be an upgrade. Oh, and here on TB I see a thread about the EMG Red pickups. Wow, just perfect for this bass! ($120) and looking at candidates for the bridge, I spot the Babicz bridge ($117). So now I'm considering spending $354 (+tax and shipping) on a bass I bought for $300.
Will it be worth it? Don't know. Will it look cool. Oh yeah.
My most expensive bass is a Fender P Select