I would say 2.Two things come to mind:
1. "What?! I'll never abandon my beautiful baby!", i.e. emotional attachment over practicality;
2. Unskilled and Unaware of It:
Illusory superiority - Wikipedia
en.wikipedia.org
The "Driving Ability" heading at the Wikipedia link has some striking numbers.
But I could see 1 if for him it's a matter of the concept or idea of owning something built, rather than the 'beauty'. It's an ugly motorcycle with a home applied paint job in an ugly color.
Yeah, I'm overly concerned about what my neighbor is riding. I really shouldn't care and I probably wouldn't at all if the affairs of my neighbors weren't so loud all the time.