First, Ruth’s Chris and Morton’s are not a high-end restaurants. They are nice, but they are not what most people consider fine dining. Especially in a large metro area.
Second, there are very few restaurants where a la carte entrees cost more than maybe $60 or $70. The super high-end places have pre-fixe (tasting) menus that consist of multiple courses, and sometimes, wine pairings. Even then, those pre-fixe menus usually top out at around $400-500. The vast majority are $100-300. That said, most of those types of places are probably not worth it for people who don’t love food, place a high value on a great atmosphere, and our super impressed by great service. For example, at a 3-star restaurant in Hong Kong I went to, early in the dinner, the waiter noticed I was left handed, and without prompting reversed all of my utensils. That sort of attention to detail is something that you can usually expect at a place like that.
That said, I have been to a few 3 Michellin star places, and a number of award winning places, and I can say the food does not scale linearly with the price. A $250 meal is not 5x as good as a $50 meal based purely on taste. But, it’s nice if you can afford it, or if you truly are a fan of cooking. For me, its more the latter. I am a fan of the process, so seeing someone combine ingredients and techniques in a unique way has a lot of value for me. I tend to buy fancy cooking products and like sous-vide machines and blendtec blenders. I like cooking and I am often awed by how well others can do it. It’s not that a meal at a fancy place will always be great, or will even taste much better. It’s that there is far more potential for both of those things. Largely, because you are paying for superior ingredients, and more of an really talented individual’s time and attention.
At the (really) high end, there aren’t many “chain” restaurants. There are places like Oceanaire or Morton’s, but again, they are not considered high-end places. Once you get in to meals being several hundred dollars, you are in rarefied air. Instead, popular chefs will open several restaurants under their brand (eg. Jose Andres, Emeril, Joel Robuchin). A chain would likely cheapen the process for many in a way the would alienate a lot of their customers.
As far as who goes to places like this, I would generally break them in to 5 categories:
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People on business. Since they don’t have to pay, and often are trying to impress someone, they go to the “best” places.
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People who are celebrating an event, and want something special.
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People who really like food, and the experience of dining at a great restaurant.
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The truly rich who just don’t want to be bothered by regular folk.
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People who want to check out the new hot chef’s restaurant, or want to be seen by important people.
I am more in the 2nd and 3rd groups. Most of the people who go are not super rich, but are comfortably in the top 5%, are white-collar professionals, 30+ years old, who view eating out as an entertainment expense. In the same way some folks go bowling, or drink out at the bar, go clubbing, or go to concerts, they will go to a nice restaurant instead. Considering many will go clubbing twice a week, and spend $200+, I would rather go to a fancy restaurant. Very few people go to the most expensive places like Daniel, The French Laundry, or Per Se on a regular basis.