Raising children to be strong physically and mentally is one of the best provisions you can offer as a parent. Strength is sometimes hard to identify, but weakness sticks out like a fat man in a Speedo at a waterpark.
Before having kids, my wife and I traveled around the world quite a bit. On some portions of our trips, we would tour castles, manors, and other rich people residences. Whether it was Italy, Ireland, Spain, China, or Germany, each of these residences always had a special area designed for pampering the owner of the property. In European cultures, there was often a dressing room, where the king/lord/etc. would be dressed by servants and visitors. It was considered an honor to be part of the pampering of this person. If this pampering was not sufficiently luxurious, it would put the king in a bad mood for the rest of the day (or longer). These people relied on this luxury to feel normal, and if they felt that they were not being sufficiently pampered, they would become upset. One king had his tailor executed because of the insufficient pampering he was providing.
This is luxury taken to the extreme, but illustrates what happens when someone comes to expect luxury treatments and products. If you make the same mistake with your own kids (and buy them the newest iDevices, cars, clothes, spring-break vacations, and other crap), they will expect the same level of luxury when they embark on adulthood. Some kids are fortunate enough to acquire a job that allows them to continue to spend a large amount of money on luxury without going into explosive debt, but this is not typical.
Here is what is typical of kids raised to be addicted to luxury products. They go to university and get an expensive degree with a major that was fun to study, but doesn’t actually lead to a (good paying) job. Often, student loans are used to finance both the degree and the luxury spending while in college. Then, upon graduation, they continue to buy expensive luxury products with money they don’t have (credit cards, auto loans, etc.). Eventually, one of two things happens. Either they find a job that pays enough money to both pay off existing debt and also finance continued luxury spending, or they eventually max out their ability to borrow and then have to eventually cut their luxury spending and start to pay back the massive amount of money owed (or file for bankruptcy).
I think it is normal and healthy for parents to want to provide the very best they can for their kids. However, if this results in an addiction to luxury that the child cannot afford when they reach adulthood, nothing good can come from this. In summary, you weaken your child by getting them hooked on luxury. It’s probably best to allow your child to explore luxury spending when they have disposable income of their own.