I would not pay that much. But for people with more money than they know what to do with, why not. Seems to me the last 2 months 95 percent of the fish are caught on teasers and metal (in NJ). Plugs caught more fisherman (me inclided) than fish. I still throw plugs (favorite way to fish). But for guys with lots of mulla, they see something they want, they buy it.
Is a lure worth that much, to me not.