Not at all.

Art, fashion, antiques, and a slew of others that I won't bother to think of, have absolutely no correlation.

Virtually every other market has only a small degree of correlation: the primary drivers are supply and demand, not underlying cost.

Can you name a market that is entirely driven by cost alone? (Note that I say "market", as opposed to a government-driven exchange)

Antiques that were made of high quality materials by skilled craftsmen are more expensive now for the same reasons they were originally. A tailored wool suit costs more than a t-shirt and jeans. A hand-painted painting by a skilled artist cost more than a sweatshop knockoff.

Supply is a function of profit potential. Production cost isn't the only factor but pretending it's irrelevant is ridiculous.