Depends on what you consider ridiculously expensive. I'm a huge Bape fan but would consider most of their products to be overpriced. I also haven't liked anything in the last 2-3 seasons. However, I'm willing to pay premium $$ for shark hoodies because I appreciate the design/rarity.
A Bape T-shirt will probably cost you at least $65. The quality in construction and the materials of Bape products is clearly a step up from typical American-mall brands, but whether that difference is worth the price increase is subjective. I think of it as the difference between supermarket sushi and quality sushi. Some people are happy with their $5 takeout sushi and think it's crazy anybody would pay $15-$20 for what appears to be the same exact fish/portions at a real restaurant. But if you are able to appreciate the higher quality, the higher price is totally justified. Me, I think supermarket sushi should be fed to dogs. Same argument goes for $100 vs. $1,000 audio speakers, etc. Monster HDMI cables is a different story though.