Well to be honest as a teenager what I really wanted was a set of JUDY DH to go on my most awesome Balance hardtail frame (it was awesome really) and if I remember correctly they were £549.00. I was 15/16 and earned about £2 per hour as a pot wash. Ended up buying some off a friend a few years later when the Z1 Bombers came out and he upgraded his GT LTS DH (what a bike that was!!).
So I think now that I can pick up a set of Pikes for the same money and I earn a considerable amount more than £2ph I think it’s about right.
So all those people you see riding around on expensive bikes, not all just new MTBers with more money than sense, some of us who grew up in the 90’s now have the money to buy the bikes we wanted as kids!
There are plenty more things that are a lot more expensive now which have had no technical innovation over the same period.