Christmas presents? 5 year old

So we always have our just turned 5 year old make a wishlist for birthdays and Christmas, basically when she sees something she wants we tell her we can put it on her wishlist. She understands that she may or may not receive the things that she puts on her list. She has consistently been asking for a pink balance bike for Christmas/wishlist. My issue with this is that she already has a real bike.. but because the neighbor that’s a little younger than her that she rides bike races with uses a balance bike (though he is getting a real bike for Christmas so he won’t be using it much longer) and because we mentioned that we might get her younger brother a balance bike now she wants one too. But I feel like it’s a waste of a present that won’t really get used much. But then again it’s what she’s asking for and she might surprise me and really enjoy it? Lol what do you all think? Do you get kids the things they ask for even if you don’t think it’s a good fit or do you make the decision to skip over those ones? I usually do kind of a mix but on a bigger item I am hesitant to waste the money