Hmmm... really. I'm not buying your semantic analysis. I agree that anything can have value, but aren't necessarily practical. Something can be practical, however, which would lead to having "practical value" regardless of it's monetary worth.
A Ferrari has value... but it's value lies in it's "look at me, I'm rich" factor. As Noisycheese so eloquently remarked, it's value is that it might get you laid. It has no other practical use.
UNlike the Ferrari, Leica is practical, and I doubt that it's flashy enough to serve the role of the Ferrari in your love life. Even though expensive, I'd even argue that Leica is the antithesis of the "Ferrari chic" mindset, even despite the Hermes advertising. In my view, the Hermes camera(s) is like the difference between a Chevy and Caddy on the same frame. They serve the exact same purpose transportation-wise; but one is purpose-built to separate the wealthy from their money. The other is a daily driver that gets the job done.
Unlike a Ferrari, a production Leica is unobtrusive and serves a very practical role. The "Ferrari chic" value has to be assigned by the person looking at it... and that comes from advertising and hype, not from the camera itself.