One thing I find interesting about discussing the cost of an instrument is that certain types of instruments seem "worthy" of high cost, while others generally do not. As an example, when I was growing up (assuming I ever really did...), guitars were largely considered little more than toys. If a violin cost many thousands of dollars, nobody blinked an eye. But if a guitar cost much over a hundred or so, it was considered a pretty dumb purchase. Over time, guitars have become more accepted as being worth at least a few hundred or even a thousand or so, but paying more than a hundred for a ukulele can be unthinkable to many folks.
In the acoustic guitar forum, I received many snide remarks about my ukulele purchases. Remembering the cultural attitude toward guitars in fairly recent history, the situation reminds me of how waves of immigrants treat the following waves. The Italians got to the US largely before the Irish, so when the Irish came along, they were treated badly and got the crappy jobs. I few Vietnamese folks I have worked with have said the same about how those who are already settled here treat the newcomers.
So I suppose that is just human nature. To me, the ukulele is a very "real" instrument. Listen to the likes of Daniel Ho or Jake Shimabukuro or many other accomplished players if anyone has any doubts. However, even here in the ukulele forums, I have read enough of the sentiment that seems to indicate that the ukulele is a fun toy, but it is a waste of money to buy a really good one at a price commensurate with the workmanship. So this cultural conditioning seems to be really deep-seated. I am not sure that this will change with the ukulele as it has slowly been changing with the guitar.
Just something to think about. If ukulele players don't consider the ukulele a serious enough instrument to invest in, who else will?
I don't believe everybody should run out and spend their savings on an expensive ukulele, just as not every guitar or violin player would do that. However, with those instruments, even those who don't spend that will realize that it is a valid thing to do because these are considered "real" instruments and not mere toys.
Tony