Yes, Coca-Cola spends a lot of money. I've seen plenty of projects where they've wasted it. That's not the point and this isn't about that particular company.
I'm not sure where this "couture" stuff comes from, nobody speaks that way outside the fashion industry. Those of us in the design industry make a point to design a logo that is appropriate to the client.
Which brings me to another point: communication. It doesn't exist in any realistic form in 99designs or any of their competition. A one-on-one relationship with a designer can steer the client away from trends and copy-cat design and towards something long-lasting, professional, appropriate and even affordable (how many of your can afford full 4-color offset for everything you produce including large-scale signage?). Professional design has little to do with being snotty or "couture." You wouldn't build your building without an architect and you shouldn't build your brand without a designer. A 1-person company (I've owned a few) can benefit greatly from a designer consulting on the identity.
When you think of design: think function. Don't focus on the form. Yes, a tremendous part of our education and experience is in creating something beautiful, efficient and visually engaging. But just as much is put in to something function correctly. I've saved clients thousands of dollars by designing materials to be more efficient.
If cost is a concern, go directly to the designer. Here's a little secret: creative directors don't really do shit. Designers come up with the ideas, create the iterations and execute them. Many design agencies pay their designers around $30/hour with few benefits while they charge $200+/hour. Find a designer you like (portfolios and references) and see if they can fit your budget.
Finally: If you can't afford a few hundred for a logo then you don't really have a business do you? It takes money to make money. If that kind of investment in your business isn't possible then you're either not serious or you're not going to make it anyway.