Increasingly, I find myself agreeing with Ken Kessler on this. Albeit with some modification.
I think there are two separate, and conflicting, 'shapes' to audio. The first is the traditional high-end, which is all enthusiast-on-enthusiast action. Enthusiast manufacturers make products for enthusiasts, who read about these products on enthusiast websites and in enthusiast magazines, both of which are written by enthusiasts, again with enthusiasts in mind. These enthusiast led products can sometimes end up extraordinarily expensive, because they are often the ultimate expression of the designer's passion - the Vertere arm is a perfect example of this. Whether or not there's a market for a $35,000 tonearm remains to be seen, but the arm's development is patently a function of Touraj's enthusiasm for the subject rather than a cynical exercise in ripping off vinyl lovers.
The other side is the luxury goods market. Products that sell because they appeal to an aspirational set of buyers. Now, it's fairly likely that even the most garish piece of luxury will likely be based on excellent performance, but it maybe that in the price-vs-performance ratio, these products will have other considerations alongside raw sound quality. Sonus faber has always toed a careful line between external appeal and internal performance, and you could argue products like the Amati Futura appeal to that luxury market more than to someone wanting 'just the facts'.
The problem emerges because the worldwide market has shifted away from the enthusiasts and more to the luxury goods buyers, in part because the enthusiasts aren't buying in great numbers any more. Products aimed at a luxury buyer need to be both aspirational and 'spendy' to achieve success. And in the luxury market, the drive is always upward - if you make a good speaker, make a bigger one. Then make it in solid unobtanium. Because if you don't, your distributors and resellers in these regions will just look elsewhere. You lose. This ultimately drives the market, and no amount of hand-wringing by enthusiasts or the enthusiast media or even the enthusiast manufacturers will change that. It's the reason why Boulder makes a 3000 series, despite it being almost impossible to use in its home market; those who drive high-end audio today insisted on an amplifier line that made Boulder bolder (!) and the end result only runs on 240V.
The curious thing about this is just the presence of that crazy money range topper helps build a veneer of legitimacy in products down the line in such markets. I'm reasonably sure Neodio won't sell hundreds of Origine CD players, but that it now has a $38,000 digital player on its books puts it on the map for those who aspire to the top end digital players, and the NR22 will start appearing in markets it would have never even registered in a year ago. As the NR22 is one of the best digital players I've ever heard, and is very much in the 'it sounds like analog' without 'it's made to sound like analog', that's a good thing all round. That our world has become so topsy-turvy that you need to have a super-high-end player to make a mark in the 'normal' high-end is duly noted.
Ultimately, our ire at seeing $200,000 loudspeakers is as nothing if there's a market for $200,000 loudspeakers, especially if the market for $2,000 and $20,000 loudspeakers we enthusiasts buy are still in the doldrums. But if those markets that buy $200,000 speakers announce 'enough is enough!' at $250,000 or $350,000, we'll finally know the limits of the luxury market. We don't get to dictate the limits of that world - they do. We just hope that enough scraps fall from their table to keep us happy.