"Implicit valuation" is not the same as the "actual value", it's just a calculation that is customary to make in situations like this whether or not the result has any bearing on reality. In fact, that was kind of my point: somehow, Curtis was able to get 500 people to buy a pig in a poke for $205. That in and of itself is an impressive accomplishment.

if the address space is fixed, though, then the marginal price that people are willing to pay increases as the suppli is eaten through.