If you take a woman out to eat and spend $100, $200, or more and say it's worth it because she's young, hot, and you bang her well then, you're just fucking an expensive whore and you're an idiot plain and simple.
Taking your wife out for a very expensive dinner once in a blue moon, and by this I mean once every few years I could see. Spending 100-200 bucks on dinner every few months, unless you're making a nice six figure salary and money isn't really an issue, is stupid.
Oh, and yes, women are competitive and materialistic by nature, the majority of them anyway (of course if you say this to any given women she'll say "yeah women are like that but *I'M* not!"). To a woman the quality of service, food, or the atmosphere don't matter - it's just about how a guy spent a lot of money on HER so she can brag about it.