This is my own personal belief, but my main objection to ebook pricing is the apparent price collusion that is going on in the publishing market (here's a link to a news story about one DOJ case: http://www.politico.com/news/stories/0412/75028.html). This isn't the first time that a format change prompted increased prices: when the CD was introduced, music labels charged much higher prices for CDs than prior formats -- notably, all of the labels also seemed to converge on a single, higher price. Arguably, the higher price was justifed due to better audio fidelity; maybe the same could be said for ebooks' features vs dead tree books. For at least a decade $20 CDs were the norm despite much lower music prices in the cassette era and much lower prices now. Check out Knopper's 'Appetite for Self-Destruction' or Kernfeld's 'Pop Song Piracy' if you're interested in the music industry specifically.
To cut it short: in a government-granted monopolized market, it seems a bit fishy when the entire market lurches in the (same) higher priced direction simultaneously.