My apologies if someone already said this (didn't read all posts), but there is a very simple and accurate answer to this question:
When is something priced too high? When nobody is willing to pay the asking price.
If anyone is willing to pay, it's not too expensive. That's just simple economics. If we keep paying inflated primer prices, then sellers will keep selling them for more and more. It's capitalism.
Exactly.
As long as people are buying them fast enough to keep them scarce, they are obviously not too expensive.
As long as people stay panicked when the supply is scarce and buy large quantities of them at virtually any price, the price will keep going up.
To the thread subject, a primer is too expensive when it drives the cost of an assembled round higher than the cost of purchasing equivalent factory ammo.
I think a lot of primer buyers:
1. See reloading as a hobby in itself and while they justify it as a cost saver, would reload even if the resulting product cost more than factory.
2. See the ability to reload as a hedge against TSHTF type events and/or legislative restriction and would buy the supplies to keep that hedge in place even if it's not cost effective.
Which means, IMO, that there are a significant number of buyers out there who will continue buying components even if it doesn't make good sense when viewed as a simple comparison between the cost of the reloads vs. the cost of factory ammo.