I didn’t vote at all.
The *purpose *of luxury goods is not to optimize price/performance.
The *purpose *of luxury goods is to convey status.
What does “overpriced” even mean for a status good? Imagine two brands, X & Y. Both have identical objective quality of materials, design, and workmanship. X’s retail price is triple Y’s. Is X overpriced?
Only if the status conveyed by X is less than 3 times the status conveyed by Y. And status is a social construct, so the answer may well differ for two different buyers. Brand X could easily be seen by the social crowd as more than 3x better than Y. In which case it’s underpriced.
I suspect for many folks in the middle of the pack amongst the seriously rich, status is measured exactly by the retail price. So for them, X can’t by overpriced compared to Y no matter what their relative prices are. Because the price *is *the status.
If the OP is really asking “Does the objective quality of Hermes goods justify the price?”, the answer is almost certainly “No, because the price definitely includes some status premium which is above the price commanded solely by virtue of the goods’ objective quality.”
And the same thing could be said of all Hermes’ competitors as well.