Partly, but I think it’s also about hope and wanting to feel a part of contributing towards progress. Some people want to be a part of something greater then themselves (cults, startups, nonprofits, teams of all sorts, whatever), which is about identity, but also nuanced.
I think the helping with progress rationale is probably part of purchase decision, as well as the product feel and performance itself, but there is also the fancy tech coolness aspect. It seems to be viewed in a similar way to Apple products. There are lots of positives with products from both companies but they also seem to be viewed almost like fancy tech jewelry.
What people identify with is usually pretty complex as far as their actual identity goes. They may choose fairly weird things, but if you ask them the meaning and their own identity attached to it is usually much larger than say ... an energy drink. But that thing fits into it, so there they are with energy drink stickers all over their vehicle.
I have a sticker for a local university on my car (just one...), I didn't even go there but what it means to me is the experiences I have when I do. That's much more than a logo.
Not to say it’s always rational.