i generally agree with you, but when you look at the details it's a bit more complicated:
i was surprised when i saw the (low) price of some of their stuff (i have never bought bose, but i looked on amazon to see what people were comparing to). but, at least in the uk, there's quite an industry of small firms producing "budget audiophile" gear that is comparable to more expensive equipment. eg mission, creek, music fidelity value series. and there are new chinese builders like audio-gd who are trying to get in on the market too.
also, they are most famous for their headphones, i think, and those tend to be more mainstream (there are not so many boutique headphone manufacturers - i guess you could call grado one, but otherwise sennheiser, beyer etc are pretty mainstream). headphones are common and easy to compare - when you do, bose headphones appear expensive, poorly made (maybe that's not the right description, but they seem "delicate" compared to the sennheiser HD25s i use for travelling) and not that great-sounding. but then their noise cancelling is good, which is what they are charging for. so it's true when people say the sound quality is relatively poor, but also true when people say they are hard to beat for noise cancelling.
finally, their music systems seemed to be aimed at "home theatre" (ie tv) while much of the audiophile scene is music-oriented, and the sounds are quite different (especially at lower prices). audiophiles typically care most about mid-range detail, while home theatre is all about the bass.
so it seems largely to be comparing apples to oranges and / or people with specialised knowledge being able to find better (but relatively obscure) value, which is often true.
[edit: listening to good music on good equipment is a real pleasure. as i said above, you can find this kind of thing at bose prices, if you look around. try asking at audiophile shops - they're not idiots, they know that the top end stuff is not for everyone, and they may well have some lower priced kit too (which they probably sell to their friends, since people who work in retail typically can't afford high end audiophile gear anyway....)]