You are kidding, right? The economic concept of pricing depends on rational consumers that obtain and use easily available information. The problem is that the overwhelming majority of consumers are neither 1) rational, or 2) for the most part willing to perform quantifiable research to identify fair value. This leads to premium pricing, where manufactures charge a higher price, solely for the purpose of creating exclusivity and/or increased perceived value.
Just a few examples in the audio industry:
1) Bose- Bose does it on the lower end of the scale, but they sell a lifestyle. Their products are cost 2 to 3 times what the equivalent and often better products cost from competitors.
2) Wilson Audio- Selling an extremely highly priced product using off the shelf drivers. IIRC, they made the first over $100,000 speakers. Now they have a model that is $685,000. There are an amazing number of speakers over $100,000. Some are terrible, but people purchase them because they look cool and cost more their their neighbor's speakers.
https://www.whathifi.com/us/features/11-worlds-most-expensive-loudspeakers This isn't a superior product, not when Revel's most expensive product is $20,000 and Dynaudio's is $80,000.
3) Amplifiers- There are countless $100,000 plus amplifiers that have poor performance.
https://www.whathifi.com/us/features/11-worlds-most-expensive-loudspeakers
4) Cables- Don't even get me started, $10,000 power cables and $40,000 speaker cables that functionally offer nothing over their less than $100 counterparts.