I find it hard to believe that $11k was a justifiable price or that the valve design was novel or sophisticated enough that someone reproduced the geometry from scratch so trivially (without even using sophisticated 3D scanning techniques I might add, as I understand it).
A lot of businesses strategically buy and sell patents in processes to prevent others from implementing the full process and to force royalties on single pieces. Patents have really got out of hand and in my opinion, stifle innovation more than secure and foster it the way they're currently being abused.
IP protections do need to exist but there's a lot in terms of protection that is just garbage.