However, I agree with you that their business acumen is lacking, pricing at 25-50% over their best quality competitor would have vastly expanded the market, and their bottom line. But someone is advising them to be the Hermes/Versace of computers and somehow making business sense to decision makers, so this is what we get.
Indeed the market is made of all people, each with their personal and subjective assessment of value based on their own personal/subjective needs, criteria etc. What a product is worth TO YOU is your decision alone… and totally subjective, and… statistically irrelevant to the market at large.
The objective value measure though that matters to the market at large is: for what price can you be certain to find a buyer (in other words: "what the market will bear").
Statistics seem to agree till q3 2019. But don't know exactly why it wasn't after that.
A: save money and try to let a product die (mac mini, mbp, ipod)
B: invest to signal hope that a product is in fact not dead (mac pro, also mbp)
both approaches will eventually lead to an iphone-ipad-only apple because in case A things just fade away with the occasional life sign as to not lose too many customers.
case B, on the other hand, gives people what they were yearning for for years and keeps „professionals“ and press stimulated but at a ridiculous price point so that, b/c of low sales, the product line can finally be killed.
The (wholly understandable) frustration with Mac Pro pricing seems mostly due (1) to the continuing lack of lower-cost, non-Xeon modular systems in Apple's lineup, and (2) sporadic upgrades leading to eventually overpriced systems (e.g., the 2013 Mac Pro ca. 2019).