High prices come from desirability and level of supply. I happen to think the VW Beetle is hugely overated yet it’s following is phenomenal. The Ford Escort was no sophisticated motor car but the ease of spares and accessories for it made it popular. Try and buy a Mk 1 Ford Escort nowadays for less than several thousand pounds. Are Myfords the best design of lathe ever? Probably not but they obviously satisfy a large part of the market they compete in. Why pay for a Rolex when a cheap digital watch from China does the same job? In some respects, Myfords sheer mechanical simplicity and ease of service wins it many friends in the amateur market.