Tom Martin comes across to me as do the salesmen in some high end shops.
Prior to the appearance of TAS in 1973, J. Gordon Holt (who started Stereophile in 1962) was the only hi-fi reviewer assessing the quality of components based on their sound, rather than test bench measurements. How he rated components included the consideration of price-to-performance ratio. He never used the term "high end", that was introduced into the hi-fi lexicon by Harry Pearson.
Pearson and his TAS staff focused on components which advanced the state-of-the-art, regardless of the cost required to accomplish that goal. We soon saw the emergence of companies whose products cost far more than had hi-fi up to that point. Companies such as Levinson and Wilson Audio.
When in 1973 I bought my first "high end" system, the Audio Research SP-3 pre-amp sold for $595, the Dual 50 power amp $695, the Dual 75 $995, and the Magneplanar Tympani T-I loudspeakers $995/pr. Those prices were not all that much more than mass market products.
When Levinson introduced their first pre-amp, it was---iirc---priced about double that of the ARC SP-3. And the price race (to the top) was on! It seemed as if high end companies were very interested in finding out just how much audiophiles were willing to pay for gear.
It’s gotten rather out-of-hand, wouldn’t you say?