Actually I think ultra-luxury pricing is there instead (OK, maybe as well) to sell lower priced products from the same company through an effect called "
price anchoring".
Marketing research confirms this drags a customer's perception of "good value" in the direction of the ultra-luxury price. A £100 T-shirt becomes "good value" if compared to a very swanky £1,000 one. And the well-known saying goes: "
The best way to sell a $2,000 wristwatch is to display it next to a $10,000 wristwatch".
I don't object to people paying ultra-luxury prices for ultra-luxury products. Heavens, I have my own (not ultra by any measure) luxury items, so where does one set any limit? However I do worry that the price anchoring effect also influences other audio equipment suppliers to move their own products upwards in the market leaving behind a lot of potential customers, including me.