Granted, those ridiculous celebrity-endorsed brassed up cameras, Hermes leather-clad special editions, and boxed sets costing more than some new cars that Leica's been producing as of late are totally indefensible. Yes, some of Leica's products are shamelessly, obscenely overpriced status symbols.
But as far as the issue of the increase in price for Leica's "normal" gear goes, well...let's look at another camera brand as a frame of reference:
The original Nikon F retailed at $183 in 1963 if purchased with a standard prism and the 50mm f/2 lens. According to an online currency converter I found, that's $1,413 in today's dollars.
So, Nikon's latest and greatest in 1963 cost about $1400 in today's money. In comparison, Nikon's current rangetopping D4s with a 50mm 1.8 costs about $5700 ($5500 for the D4s, $200 or so for the 50). That's an increase in cost of almost exactly 4x.
To compare all of that to bonatto's original argument, if the M3 +50mm costs $4600 in today's money, and a modern equivalent M240 and 50mm costs about $12k, that means Leica's modern top of the line only costs 2.6x as much as it's top of the line circa 1969.
Yes, Leica's gear is expensive. Even in 1969, the M3 was comparatively expensive. What I found interesting about this is that while Leica's prices have only about tripled, it would appear that the "affordable" everyman's brand, Nikon, has quadrupled in price, relatively speaking.
I'm not saying that Leica's cameras and lenses aren't ridiculously expensive, and that the extreme cost isn't alienating, because hells yes I wouldn't blame anyone for a second if they told me they were "over" Leica as a brand and they cited cost as the reason. But...perhaps some of the stratospheric Leica prices are simply natural increases in cost that have come with technological advances and increased precision in manufacturing which have been adopted by ALL camera manufacturers. And hey, it would seem that companies like Nikon have actually increased the cost of their cameras even more dramatically in the last 40 years than Leica has. Consider the fact that most Japanese manufacturers' factories are not in first-world countries like Leica's are and the issue gets even more interesting once you start comparing things like the economies of scale at Nikon vs. Leica volumes of production, and the drastically lower overhead in Thailand vs. Germany.