Moto-Bunny, let me try to explain my point with another example.
I bought a pre-paid phone a few years ago. It was someting like 30 euro with 50 euro prepaid. That is, I paid less for the phone and paid calls than the value of the calls.
Few days later I wanted to buy a cover for the phone. It was 10 euro. What? Sorry, I'm not paying just for the plastic cover a third of what I paid for the phone+calls. I rather use the phone and buy another one with the price of three covers, and will get 50 euro more in phone calls.
Case guards are "cheap" insurance if they are cheap. If their price is close to what they protect, then there is no point in using them unless it is to avoid being stranded for a spilling alternator cover or bent points cover. Courier rides here use guards, they can't afford not to work one day for having to repair their bikes, but their bikes are workhorses and looks is secondary.
Sure thing, there are cheap case guards, but I bet they bent like spaguetti under the weight of a CB750, much more if the bike was in motion before the fall, and between damaging the frame or damaging an engine cover, I rather have the latter.
We are sending a message with everything we do. From what we say to what we write, what we wear, what we ride and how we ride it. People who wear a brain cap are also sending a message. They prefer to get the expected result of the image they send than get the protection of a full-face helmet. You say you don't care for what others think. If I would think that case guards are worth for me what they cost, I would use them without worries. As that is not the case I don't use them, and as I have seen many newbies taking their bikes out of the showroom with the case guards fitted for fear of damaging their new bikes, I don't like to be taken as one, is that simple. Not that I have anything against newbies, I have been one myself. We could go on and on on why some people think that wearing chaps looks gay, and we will have chap-wearing people saying they don't give a damn. You like chaps and think they offer protection, people tells you look gay with them, you don't give a damn and wear chaps, end of the story. The same goes with case guards.
I have a curious picture about case guards, as soon as I find it I will post it.
Dude, get your phone cover off of eBay or something. . .I got mine (yeah, I use those too. . . lol) for like $.99!
I consider my bike a workhorse as I ride it almost every day - it has been my daily driver (I don't have a car, currently) for most of the last 3 years. The case guards I used are of top notch quality - deep old school chrome and full tubing (not halved underneath like the David Silver ones). Basically, if these guards bend then the frame will be toast, anyways (if not me, as well. . . lol)
I also still believe that just about any crash but a stationary tip over is likely to result in parts cost far more than most case guards run, as pointed out by Mystic_1.
No I don't really care what others think (to a reasonable extent) and I believe in the case of motorcycle stuff, "function before fashion" for the most part. I don't dress slovenly or anything while riding but I'm not going to ride in heels or shorts, either. . .lol. I guarantee however, when riding around, no one thinks I am a noOb either - either by riding style, outfit, blonde hair to my waist blowing around in the wind or something. . . dunno. I actually have gotten plenty of compliments and good conversation from fellow riders (part of the fun of it all), even from our local Gypsy Jokers (outlaw biker club).
Actually, I also have a wicked pair of chaps that look damn fetching over tight jeans - they are brown suede leather with fringe, even, and are originals from the '70s. In my opinion, chaps only look "gay" if the dude wearing them doesn't have anything on underneath.

Portland's yearly gay pride parade offers the opportunity to see plenty of guys' bums in chaps. . .LOL (and I'm
not complaining

)
To me, what is a total newbie red flag is a brand new bagger, with blinding amounts of chrome that looks as if it never has seen a minute of rain with some guy on board in an also brand new leather vest that probably makes six figures (and wears a tie on his shoulder during lunch, or whatever. . .lol) and whose tires' "chicken strips" are about 70% of the tire and with the only custom cycle mod being a louder exhaust. Yeah, way common and cookie-cutter booooooring. . . . .
I know what you are saying and all but looks like we will just have to agree to disagree on the case guards (and some other stuff) - but it's all good, no worries.