Why Hermès is too expensive?

Could you please elaborate on why Hermès products are considered excessively pricey? What specific factors contribute to their premium pricing strategy? Are the materials, craftsmanship, or brand reputation the primary drivers behind these high price tags? Additionally, how does Hermès justify these prices to consumers, and what sets them apart from more affordable luxury brands? Lastly, how do their prices compare to other top-tier luxury goods in the market?