It's one thing to make an item genuinely luxurious, and another to take an existing product and slap a wooden grip on it. Like the difference between a Porsche and some trashy Ford spruced up with spinning chrome rims, neon lights and ghetto blasters.
The few cameras that Leica does rebrand have more work done on them than what Hasselblad is doing, which is a direct copy/paste with no effort to improve the underlying system, and in some cases make it worse.
So to rephrase what I said, Leica doesn't make items
uselessly luxurious for the sake of it, but they are 100% luxury products. The money simply goes into impeccable engineering rather than flashy appearances... the Leica M is not really the best looking camera IMO. Leica does produce limited edition cameras, who's prices are bonkers even by their standards, but it in no way influences or detracts from the mainline product. Even worse, the Leica limited sets and one-offs are often auctioned for charity purposes, while the Hasselblads are just cash grabs.