Granted, it's not nearly as nice as Apple's stand. But I suspect the reception would have been a lot better if the narrative was "the $5000 screen comes with an ok stand, the great one is $1000 extra" instead of "lol, the $5000 screen is useless unless you buy a $120 Vesa mount plus some off-brand stand, or the $1000 official stand"
Underwhelming indeed.
But if you are using a six year old, $200 monitor you're not the market for a display like this.
Counterbalanced, Humanscale stands go for $400+ Nice equipment is expensive--it is the whole point of this release.
Though I don't own a Macbook, there's one aspect that I truly love about them: you can open the laptop easily with one hand. The vast majority of laptops I've come across require two hands. It's a rather minor detail, but as a result it smooths out an equally minor nitpick that I have with other laptops. For many, little details like that are worth the extra money.
For example: There's a Dell laptop to the side of my desk. Opening it one-handed causes the lid to open slightly, but then the base starts to rise. I need to either stick my hand inside a bit and wedge it open (which is a little more strenuous than I'd like) or use my other hand to pry it open (which feels fiddly and requires rotating my chair or adjusting my seating position).
I don't know enough about fancy monitor stands to judge Apple's stand, but generally: if I needed to perform work that required adjusting my monitor a few times a day, there would be a quite a bit of value in buying a monitor stand that makes the process somewhat easier.
Perhaps Apple figured it would be seen through the same eyes as those considering a $12k Mac Pro workstation, and appreciated in a similar way.
Another note: contra-wise, Apple did flirt with “luxury” watches for a time. Though I think they gave up on that direction.