I don't get it about really expensive guitars (and basses). I like high quality equipment, but
believe that the more the price rises over $2000, the less you get for each dollar spent.
But I also firmly believe that if someone has the money and can afford it, by all means
someone else should supply what they want or need. I am not opposed to prostitution for
the same reason... unless criminals are forcing women and boys to work in the sex trade.
String up the pimps and let the hookers go free (and keep their earnings) in my kingdom anyway.
Supply and demand will always rule.
So I'm happy to play my Warmoth Fretless J-Bass, that I built myself from parts I could order online.
I spent about $750, and now own a cool hand built bass with excellent tone and action.
I'm also happy to play my 1997 Squier P-Bass that I was given free, and have since invested
about $450 in parts and labor. For under $500 I rescued a POS and turned it into a fine playing
Precision Bass that is up to the most demanding professional standards.
So the cheap instrument might need some expense and effort to upgrade it to higher standards,
but the ones I've worked with (Epiphone and Squier) have responded very well to this.