[QUOTE=anamnesis]
I can go to Ruth’s for a filet, a side, and a bottle of wine for $60 a head, maybe $70 if I decide to splurge with a dessert, so I don’t know what you ordered …
[/QUOTE]
I agree that one doesn’t go to a good steakhouse like Ruth’s or Morton’s or Palm and get a “budget meal”, the whole point is to pay primo prices for primo food that you can’t get yourself or at another, cheaper establishment. If your particular wallet/palate combo doesn’t feel it’s worth shelling out 3x the cost of a steak at Sizzler for the same cut but dry aged, prime grade, and broiled at 1800 degree temperature steak, then by all means, only go when someone else is paying for it 
That said, I find your $70/head cost amazingly low. The steaks alone are $35-40 and that includes no sides or appetizers, much less wine and dessert, and don’t forget the tip. I would expect a tab to run to $100 to $125 a head for a “fine dining” experience along something like the following per capita breakdown:
Appetizer - $10 (could be a salad, or splitting something fancy like tuna tartare)
Steak (the main event) - $35
Half of two side dishes (e.g., spinach and potatoes) - $15
Dessert - $15
Half of a bottle of wine - $25
That’s $100 right there. Add in tax and tip and you’re up to $125 per person.
As for how this can possibly be worth it, and why not grill steaks yourself: I can get dry-aged, prime grade beef at my local butcher, but there’s no way my grill can get up to the broiler temperature without setting the steak on fire. The $35/steak cost is not much of a markup for the meat; dry-aged prime grade beef costs me at least $20/lb. for the cuts they serve at a steakhouse (Porterhouse, Ribeye, NY Strip), and the steaks they serve are generally more than 16 oz. in size! They’re really making a profit on the other parts of the meal (appetizers, desserts, wine, etc.).
I love a good steak, and can grill a good one, if I do say so myself. But sometimes I just gotta splurge and get the really good stuff at a good steakhouse. I admit it’s not a linear scale – I’m not getting 4x the quantity or even necessarily any fourfold increase in some quantified “enjoyment factor” over simply grilling a normal Angus steak on my Weber grill. But it’s a level of enjoyment I can’t get otherwise, and every now and then I just feel I want to indulge.