People are free to do whatever they want with their vehicles, however, this strategy is generally flawed because you will NEVER get the cost of your "upgrades" back out of the vehicle.
I have a coworker that has a 2018 XLT F-350 with the 6.2. He has added Anzo headlights, Katzkin leather, aftermarket heated seats, a lift, wheels, tires, etc. He's always telling me how it's "basically a Lariat"..... but it's not. The secondary market doesn't care what cheeseball "upgrades" you've done, it's still an XLT on the VIN and will resale as such. In fact, if I have my option between a stock unit, and one that's been heavily monkeyed with, I'll choose stock every time.
Don't get me started on upbadging. The Ecoboost Mustang guys with GT-350 decals and all of the XLT F-150s running around with Raptor Grilles.... ridiculous.