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The amount you spend is all relative to what you appreciate. I enjoy the luxury of a pedicure, but my friend would rather a nice bottle of wine. $40 is way too much for me to spend on a cushion, but $50 is way too much for my friend to spend on a pedicure. If you would rather spend that much on a cushion than something else in your life - then it is worth it (to you). Everyone will feel differently. Be happy with what you bought (and if you are judging someone else’s purchase - then don’t)
Depends on your circumstances. How are you living? Are you struggling to pay your bills & can't save money? Then yes it's too expensive for you.
Not if it's your feature / accent pillow & only getting a couple. I wouldn't spend that much for every throw pillow. It all depends on your budget & whether you want to splurge or not.