As if "global industry" exists only to create "toasters [etc.]". You mistake me. As with things like CPUs, stoves are fantastic general purpose tools for preparing food and worthy of industrial effort.
Toasters do seem to pass that test as well, because most western households have a toaster or something similar. In that sense the market has spoken. But it is reasonable to ask how much bang for the buck (and also for the environmental buck) the toaster delivers compared to other food preparation tools. I suppose your view of the price:performance ratio is strongly correlated with your personal toast requirements.
Toasters do seem to pass that test as well, because most western households have a toaster or something similar. In that sense the market has spoken. But it is reasonable to ask how much bang for the buck (and also for the environmental buck) the toaster delivers compared to other food preparation tools. I suppose your view of the price:performance ratio is strongly correlated with your personal toast requirements.