I always thought it was "Mt. Gox", like a mountain of sorts. Turns out it's Magic: The Gathering Online Exchange.
Edit: MtG seems like it has some kind of evergreen popularity, and various format changes, changes in the list of banned cards, reprints, and changes in the metagame will mean that prices of individual cards can vary wildly over time. So if something was sold for a ridiculous price a couple times, it's possible that something changed (Targmogoyf used to be very expensive, for example).
Wizards seems pretty good at catering to a variety of players, both collectors and non-collectors.