Higher parking rates means fewer people driving, which is a long-term win. I highly doubt this was the top priority for the people who set the Chicago parking rates, but it's actually a good thing for the city.
Yes, you can argue "it just means parking is for rich people" -- to which I'd respond "keep increasing the parking rates, along with some other tactics, and even rich people will turn to other means of transportation."
Here in Amsterdam, the city government is deliberately doing things like raising parking rates, closing streets to car traffic and removing street parking -- all in an effort to reduce car usage.