The pricing of instruments has to be split into at least two thought paths to make any sense. One is the value of the guitar for what it is - musicality, quality of construction, materials, build and so forth. The other is as an ego stroke or as an investment. The two are different animals.
If you market the stuff right, you can sell $50,000 baby bottles and someone will buy one. The impulse has nothing to do with feeding a baby, but it certainly has to do with something that translates as some kind of big value. Maybe ego, maybe rarity, all that.
But getting to the more real world, there are people who will commission a guitar from a luthier and who are looking for exactly the right tool for a job. These aren't nutzos - they're serious, very serious, about what they do. And they are in a position to put their money where their mouths are.
A good example is Pat Metheney. I doubt there is anyone who would begrudge that guy a nod of respect for the level of his professionalism and his art, whether they lock into his work or not. He's for real. Here's something he commissioned and recorded with. You can bet it wasn't hanging on a rack at GC with a $2K tag.
The pic is of a
Manzer Pikasso.
High end guitars are picked up by pros who are searching beyond the tools more readily available. A Benedetto can run you $30K. So can a Neve board or a Ford Explorer. It's a matter of perspective.