>That doesn't mean it's reasonable to spend thousands of dollars on a single toilet -- even if you would if you absolutely had to. The cost isn't that high.
But I agree with your point. If you have some specialized, almost unique, knowledge, have plenty of demand, and are hard to substitute for--and it's something high value--you can charge a lot.
Indeed I would complete the analogy as follows: if only you could produce toilets in the entire world, you could (and probably should) charge a lot of it, since it would be so scarce -- it would be the stuff of world leaders and celebrities; or you could charge for 'how to make a toilet' (which makes sense since your production capacity is limited). That's when your product/service justifies something close to value pricing.
Check out Toto washlet prices. :-) e.g. https://www.totousa.com/washlet-with-smart-toilet-g450-10-gp...
But I agree with your point. If you have some specialized, almost unique, knowledge, have plenty of demand, and are hard to substitute for--and it's something high value--you can charge a lot.