Cycling's always had chi-chi stuff that cost a ton, sometimes with negligible benefits, often at the expense of durability.
Remember 'drillium' cranks, brakes, chainrings, etc.? How about the early aerodynamic stuff that didn't do squat? What about those early CF/titanium bikes that were more exercises in material applications than bikes worth riding? Those machines and parts all cost a ton, and honestly, nowadays you get better value for your money when you buy the new ultra-high-end bikes – at least they're not likely to break up on you while in a sprint or descending a hill.