Well... they are mass produced in overseas sweat shops to keep the labor down. The don't last long , look like some gay male designer's idea of 'flashy', and don't do a thing for your feet.
The whole idea is that a celebrity(sport) endorses the shoes, and they are brought to the US and sold at high prices for high profit margins.
In the end, it is about a culture that believes flashy material objects will bring them happiness.