The biggest badge chasers are the people buying "real" M cars without actually driving them on track
That's a 100% show off. Which is quite a big percentage of the M-owners to be fair.
Sticking to the topic - I don't see a point in the X1M, as I don't see a point in every M car, apart from M2, M3/4 and M8 maybe. M35i is more than enough.