"Overpriced" is always in the eye of the beholder. Is Lelo selling enough product to stay in business and make good profits? It looks that way. So, it's safe to say that they are using good price-points for their target market.
Are their toys "really" worth the price? That would depend on what each person values in a sex toy. If you value vibration power over all else, then it sounds like this brand isn't the one for you. However, that doesn't make their products overpriced--it just means that the manufacturer focuses more on high-quality materials, design, manufacturing, and packaging (and customer service and warranties) than on vibration power.