Which is rather like what they did.
Cars are an area where this is really common. BMW doesn't bring their lower end stuff into the US. Toyota created Lexus to be a luxury brand.
Or there's the pricier sorts of bottled water...
If you can get yourself into a "value through market position" opportunity early on, it seems like a license to print money.
"It's a limited-time opportunity to create an inconceivably rare sneaker. Each month, Nike is releasing a new, exclusive material option for the Nike Air Force 1 High Premium iD. A limited number of pairs is available to customize each month, so get one while you can."
I'd say that $200 is approximately the right markup compared to the regular price of an Air Force considering what's required for individual customization. I do note that the price of a shoe may be high to begin with.
That being said, they've stepped it up beyond your example and gone with "Bespoke" options for their shoes. $800 a pair.
Tell me about it. On my honeymoon in Maui I accidentally spent $9 on a bottle of water at Ferraro's.