For example, consider the Asus Zenbook Prime[1], which can be found for $1100-$1150 configured with a Core i7 (faster than the base $1200 13" Air) and a 1920x1080 screen (about 1.5 times more pixels than the Air).
[1] http://www.amazon.com/Zenbook-Prime-UX31A-AB71-13-3-Inch-Ult...
A.) Who really needs to do serious crunching on their ultra book these days. Unless you are compiling very sizable programs, you're never gonna notice processor speed.
B.) Think about how that "superior" processor eats power like it's going outta style. Now combine that with a super thin computer that's light on volume to hold batteries. Is that extra fast processor worth 2hrs less battery life?
C.) Given A and B, I'd rather have the slower processor.
You're basically saying that a Hyundai is a better car than a BMW because it has a more powerful engine and a dashboard with more blue lights.
Likewise, a $35 Casio calculator watch is basically better than a $2,200 Omega. The Omega can't even multiply numbers and it has difficult to read hands!
Apple's build quality is approaching levels previously only seen in extremely high-end watches and automotive products. Computers, in general terms, have such rickety materials that they packaging they come in is often nearly as robust as the computer itself.
When people say "fairly priced" they mean for what you get. Apple's offering an extremely premium package for a slightly premium price.