There comes a point of diminishing returns. What I mean is, you can pick up two totally different instruments and quickly determine that instrument A is waaaay better than instrument B. The reasons bringing you to that conclusion are many and varied. It could be the weight or the balance or the feel of the neck or the ease of set-up or the sound you hear unplugged or the sound you hear amplified or the number of tonal variations you get by playing with the controls or the........you get the point.
Now, if each one of those things means something to you, you will be willing to pay a lot more for an instrument that delivers it all than for an instrument that delivers some and ignores other elements. Since you and I are different people and different players, what I identify as good neck feel that I would be willing to pay extra for, you could determine is not important at all. You may not even notice that there is a difference in neck feel.
Where you get to a point of diminishing returns is (in my opinion) once you get in the $1,800 - 2,500 range, you have to EXPECT that each manufacturer has all the key elements that make a bass great NAILED. Then you are at a point where player preference with regards to appearance, finish, hardware (black, gold, chrome plated, adjustable) is what drives the price of the bass.
For example, I have two basses that have side LED markers. Do they add to the cost of those basses? You bet. Do they contribute to tone or playability? Heck no! So why do I have that feature? Because I can. Simple as that. And the value I place on having that feature will be different than the value that Jeremyr places on it which will be different than the value that funkStrat_97 places on it, and DWBass might even reject the bass because it has the feature.
When you get into the Alembic / Sadowsky / MTD / CallowHill / Ken Smith / Fodera price ranges, you are dealing with basses that HAVE TO have all the tone quality, build quality, material quality, playability issues NAILED and the rest of the price is the cost of having it made your way, with the options and features you want on it. You can spend a lot of money adding features to any one of those basses that have diddly to do with the sound your audience hears. But none of those companies is hurting for business.
Now, don't get me wrong, each of those brands I mentioned produce tones that will make you fall in love with them. Alembic, MTD, and Ken Smith in particular have their own defining tones that other basses can't seem to totally copy. Those tones will in some cases be the reason why someone choose that particular brand, but it will not be a reason why they chose to pay more for it. For example, the Alembic tone is not worth $3,000 more than the Fender tone, but I would pay $3,000 more for an Alembic than I would for a Fender because of what the total package brings. I would also be perfectly happy with a $500 Made In Mexico Fender. Each instrument is what it is.
Long post.....Lotta words.....hope it makes sense and lends something to this discussion.
Peace,
James