This is true for every domain that has a sizeable number of passionate hobbyists. When you have a big enough group of people that make thing X part of their identity, statistically speaking a few of those people will be rich, and purveyors of thing X will eventually create products that cater that price point.

Basically, if you've got someone who has $100,000 and wants to have the best X, someone will eventually make thing, claim it's the best X, and slap a $100,000 price tag on it. I mean, why wouldn't you do that? A fool and his money are soon parted, and rich fools are the best of all.

Men seem particularly prone to this and you really see the effect in "masculine" pursuits.

See also: Audio hi-fi gear, musical instruments (guitars in particular), watches, photography, cars, liquor (whiskey in particular (Scotch in particular)), cigars, woodworking, etc.

If dudes got into knitting, two weeks later some company named YarnProMax would be selling the neodymium jacketed titanium-core YarnSLAYER6000 needles for $18,000 and there would be dudes who bought them just so they could show them off to other dudes at the BBQ.

It's annoying, but it mostly affects the very high end and there is plenty of good affordable gear a tier down. Even better, a lot of this stuff trickles down into the used market for much better prices, so these people tend to act as a net win for the hobby's ecosystem by infusing it with extra money.