No. I believe in quality vs. quantity as well- I don't have very many clothes/shoes/hand bags/accessories compared to every other woman I know. I make the best of what I have, and try to buy only quality, classic pieces that won't be going out of style in two years.
The walmart mentality in America has people buying a closet full of cheap crap. So, good, stylish, clothing is driven from the marketplace. For dressy occasions I have few clothes (compared to my active wear) and one pair of really good shoes (not made in china). I think that people who wear quality are smart.
As long as your junk is covered, *shrug*
I usually only wear one pair of pants daily..