"New competitive pressure force established brands to come up with new ways to trick people into paying 200 dollars for things that cost 10 dollars to make."
OTOH the typical consumer wants to "feel good" and part of a "special club" when buying, they want "an experience". That's what Nike sells along with the shoe, and that amounts to 80% of the price. /half-joking
40% off
I doubt if I'll ever buy expensive sneakers, if they don't have any additional value ( eg. Supportive for running)
You are not kidding. That's how this was born: http://flashlights.parametrek.com