Guess I'll have to wait!
Do whatever you can to go. If you need a place to stay I've got a free couch.
[1]: http://auc.edu.au
For example, 5,000 tickets at $1,599 each is just under $8 million, which is a drop in the ocean when you consider Apple has around $145 billion in cash.
While shareholders are rewarded with dividends and share buybacks for taking on risk, developers have to pay to take on the risk of building Mac/iOS apps.
$8 million represents %0.000055172 of Apple's cash. That looks to me like a pretty cheap way to throw a party for developers and celebrate all that they've done over the years.
That said, I do think they should have separate press tickets for the keynote, perhaps priced a little higher, but with priority entry or something. As a developer I'd like to see fewer tickets taken by the press, but really care about being in the main hall for the keynote.
Apple do this for at least some of their internships as well. I think it's a shame because I suspect it puts many students off from applying.
The following year I made a Mac app that lets you compare audio files side by side.
These were apps I wanted to make anyway and I just timed their release with the application period. Those were the first years the conference was selling out, so I'd estimate that competition was far less fierce.
Worth a shot, if you can afford the time, as the experience is exceptional!
Apply and worry more about funding your travel once you get accepted.