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The larger sets that go for hundreds of pounds remain unaffordable for most people
As do luxury yachts and private jets. A thing isn't too expensive just because poor, or even somewhat wealthy, people can't afford it. It certainly isn't objectively over-priced just because you don't value it at the typical selling price when so many people think it's correctly priced.
Sorry, missed this.
Well, of course some people can afford it, but with the kind of wealth disparities that exist, that doesn't mean anything for evaluating the price. The second clause in your sentence appears to me to be false for small to medium-sized sets. The larger sets that go for hundreds of pounds remain unaffordable for most people even with, say, a 50% discount, but smaller sets don't. Obviously, again there will be people too poor to afford any sets, but let's just assume as the baseline a low-earning family wanting to buy something for their kids.
I'm afraid that I consider LEGO overpriced even with a 20% discount applied. I've said before that I don't think it's really a discount, but an added premium to make 20% off appear more attractive.
One counter-example was all that was required, as your claim that 'there are no warehouses full of unsold Lego' was too strong. :)