No this is not irrational. When it comes to things like this they are only able to justify that price because information asymmetry. It's not irrational to not want to get gouged or overpay. That extra money if it was not wasted because information asymmetry would provide value elsewhere in someones life or business dealings on other things.
Like some companies have ridiculous things like MAP when comes to retailers selling their products.
Just because a lot people are getting gouged and don't realize it does not mean they are not being gouged on price. Ideally other competition would help balance out this information asymmetry. In the ideal sense that a competitors costs to produce the same product/good would be roughly the same or in at least similar ball park that if one company is pricing something insanely high it would stand out. Although there hosts of reasons this does not work out in practice ranging from limited or no competition. Other issues such as that most goods are not identical ect...
Like some companies have ridiculous things like MAP when comes to retailers selling their products.
Just because a lot people are getting gouged and don't realize it does not mean they are not being gouged on price. Ideally other competition would help balance out this information asymmetry. In the ideal sense that a competitors costs to produce the same product/good would be roughly the same or in at least similar ball park that if one company is pricing something insanely high it would stand out. Although there hosts of reasons this does not work out in practice ranging from limited or no competition. Other issues such as that most goods are not identical ect...