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From what I've heard, people justify buying stuff they don't need by saying that they're saving money. Even then, if it's something you don't really need, then is it worth buying it in the first place? For example, a friend of mine last year bought a third PS4. I asked him why and he said because it was saving him money. As his good friend, I can tell you that he didn't need that third PS4. I don't think he has even used it yet and it's been a year!
Also, to allow for such deals, a lot of companies will use lower quality materials to not suffer heavy losses from the cheaper prices. So even then, you're still probably losing money by participating in the Black Friday madness.
For my family, in particular, between November and December, we've got 4 birthdays and Christmas to celebrate (ie. buy stuff for), so saving some money helps. We're usually pretty cautious about avoiding the products that have cheaper materials used just for Black Friday--I'm taking credit for that--so we do still save some money in the end. And it helps.