Agreed! A price tag seems to translate to beauty to a lot of people. If you didn't put 3 months wage into your tank, it's not worthy which is incredibly sad and frustrating.
But overpricing is only part of the problem.
I see stunning tanks full of cheap, yet BEAUTIFUL coral and fish, but they don't get the same amount of love from others as tanks with $2000 lights, $1000 skimmers and $1000 frags.
This hobby as a whole really needs to show some love to those who can't or don't want to pay these ridiculous prices. This hobby is all about showing off our cool collections, but we need to show some love to the more humble reefs. I'd much rather see a tank fully decked out in $20 coral than see a tank with one or two $500 corals.
I'm colourblind, so I obviously don't have the best judgment in colour, but some of those "high end" and "limited edition" frags are quite dull and not very appealing.
Like I often say, I'd rather not sell a kidney to fund my hobby.