I've got two basses at the moment. MY Blade 5 string cost me roughly £600, and it does me proud everywhere I go - gigs, studios etc... So I'd be tempted to say that the bracket that this falls into is still a pretty good one.
I also have a fretless P-bass bitsa that I put together for roughly £100. It's my 'go to' bass, as the playability is just sooooo good.
What we have here is the principle of "commodity fetishism" played out on an internet forum. To summarise it, we (as capitalist consumers) are conditioned to believe that something that if option A (bass, car, PC etc...) costs more than option B, then option A [i]must[/i] be better than option B.
I'm not really a Marxist, but I am sympathetic to a fella called Theodore Adorno who was. He wrote lots of papers/essays on popular culture and its place in society, and talks a lot of sense.
Ears don't lie folks, Joe Meek pegged it right - "if it sounds right, it IS right".